I talked to my mortgage lender today - she was taking more information and will call me tomorrow, hopefully, with the verdict. (getting pre-approved, so just want to know what range we can even look in). She asked what we had available as a down payment, and I said - nothing. We haven't been able to save any money because of high rents. I told her we would just roll that into the mortgage. She said 3.5% is typically required for a down payment and that the days of totally financing a home are over. Has anyone else bought a house recently and found this to be true? We are both first time home buyers and people have already said "Ohh, no, don't worry, you don't need a down payment if its your first home..." So which is true? Has the economy changed that rule? Should I call another bank?