I agree with these other two guys, but I want to tack a bit of info onto what Stark said about first time home buyer "perks". While he's right and small down payments of 10, 5, or even 0% may be possible, I advise against them. If you put down less than 20%, you will very likely have to pay for PMI (private mortgage insurance). This is insurance for the bank that does nothing for you. It's the bank's way of mitigating risk when they hand you a house with very little (or even negative) equity, as would be the case if you made a tiny down-payment. The cost can be up to 1% of your loan amount annually. So, this varies with the cost of your house, but I did quick numbers, and even with a $250k loan and a minimum PMI of 0.5%, that's an extra $104/month you're shelling out in your mortgage payment for absolutely no reason.
