So you have decided that home ownership is for you. Paying rent is just money gone without a return. But as you consider your options for a mortgage, that pesky down payment requirement keeps coming up. Realty Times has an article specifically about ways to get that downpayment. CLICK HERE to read the article.
A word of warning. Currently mortgage industry actions include determining where your downpayment came from. Money from a savings account that has only been there a short time (less than 6 months) is looked at very carefully. I suggest that you discuss the downpayment issue with a mortgage lender before you make any deposits. Particularly if the money was a gift or inheritance. Don't get in the position where you have the money in the bank but the lender will not acknowledge it because it cannot be sourced.