Sort of.<p>Yes, you can get away with a 3% down payment with an FHA loan. But 3% is still $6K on a $200K property, even more if you&#x27;re trying for a $250K or $300K property. That doesn&#x27;t include closing costs, nor an emergency fund you need for homeowner expenses that traditionally come up.<p>Sure, you can afford the house at closing. Are you financially well off enough to afford it for the next 15&#x2F;30 years (depending on loan term) so as to not lose your equity?<p>Probably not, and that&#x27;s not going to get fixed until incomes start rising.