The deposit, as well as the total downpayment, can be from savings, a gift, or even borrowed funds. Cosigners can be used to help quality you for FHA or VA, even if they won't be living in the property . If necessary, your credit profile can be improved very quickly with a little work. The pre-approval will show you your maximum loan limits so you don't waste your time. It can also show you how to make small changes in your finances to quality for a larger loan and a bigger house.
Loans are also available to fix the property, buy appliances or even do major remodeling.
The loan can be funded within 21 days of closing your purchase, and is a fixed rate, tax deductible loan. These loans are a good way to take your downpayment back out of the property, and lower your monthly payments with bill consolidation.