Dear Edith: We are planning on buying our first home this summer. My husband applied at a lending Web site and we are pre-qualified for a Rural Housing Loan at 100 percent financing. We also qualify for an FHA loan with 3 percent down.

We are waiting because we just paid off our cars and are paying off old credit cards so we will go into the process debt free. Hopefully we will be able to accumulate about $5,000 to $7,000 cash by summer.

If we use a no-down-payment loan, and man ...

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