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Good credit only gets you the lowest of the going market rates. Someone with good credit would have had a higher interest rate 5 years ago than they would today.
You can get loans for pretty much as little down payment as you want. You can even get cash back if you want. Of course, this also assumes you have good credit. They'll make you pay PMI until you own 20%, but I only put down about 10% on my house and still got a good rate at the time (a year and a half ago).
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