3.5% down is still possible from FHA as long as you have a steady job for several years and don't mind the pile of fees you get. I looked into one and the PMI was probably 1/2 that of putting 10% down on a conventional 30 yr but about another 5-7k in up front costs that are rolled into the loan.
You just have to be buying in a building that's qualified for FHA loans (either a resale or over 70% sold building) and jump through all their regulatory hoops. Beyond that if it works for you, do it. For me it made more sense to put down a full 20% and skip all the hassle and enjoy my 3 figure mortgage payment.
I would look into downpayment assistance programs that Atlanta has:
ADA - Atlanta Development Authority - Mortgage Programs
The income limits (72k for some) are reasonable and it works as a 0% second mortgage. It can move you out of PMI if you qualify.
Welcome to City-Data.com forum! Make sure to register - it's free and very quick! You have to register before you can post and participate in our discussions with 700,000 other registered members. User profiles and some forums can only be seen by registered members. After you create your free account you will be able to customize many options, you will have the full access to over 15,000 posts/day about local topics and you will see fewer ads. 
What's the best loan for a highrise condo in Midtown?
Linear Mode
