Biggest obstacle for first time home buyers can be the down payment

Real Estate agent with home buyer
Real Estate agent with home buyer

A lot of factors play into the decision to become a first-time home buyer. It takes confidence in the market, in the economy, and in your own financial strength as well as requiring good credit, a steady job -- and a down payment.

Those down payments can range from 3% at the low-end (for FHA loans) to an average 20%, says mortgage expert Arnold Martin.