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(Bankrate) — The prospect of buying a home is daunting, especially for the uninitiated. First-time homeowners often aren’t in the position to pay tens of thousands of dollars for a down payment, either. Luckily, options exist to help new buyers get mortgages without selling their organs to come up with the cash.

FHA Loans: Insured by the Federal Housing Administration, these loans — known as FHA loans — only require a down payment of 3.5 percent along with mortgage insurance. A down payment of 3.5 percent is a lot more manageable to first-timers than the traditional 20 percent down. And if the home is in an affordable market, the down payment will be even lower.

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