Any mortgage loan you sign for after July 1999 by law must drop the mortgage insurance requirment once you have 22% equity in the home. Also, many condominium properities qualify for FHA loans which make it easier for people to own their own home if, like Natasa, they can't afford a detached house. The link below has alot of good information and includes interesting tidbits such as: if you are a teacher you can buy a HUD home for 50% OFF the list price if you buy the home in a specified zip code. The approved zip codes are listed for you for every location in the country. There is a similar program for police officers. http://www.hud.gov/progdesc/203b--df.html
