The size of your down-payment affects how much you pay in interest and other fees down the road. Paying for 20% of your house upfront is great. It’s the gold standard. It’s also not entirely realistic for everyone. Paying 20% on a $350,000 home is still $70,000—a considerable chunk of change. Use our mortgage calculator to see how much different sized mortgages would cost you. If you can’t swing 20%, you have options, but they come with costs—some more than others. Here’s what you can do:

• See if you qualify for a Federal Housing Authority Loan – First-time homebuyers may qualify for government assistance, in the form of loans that allow you to put as little as 3% down. There are limits as to how big a loan you can get (go here to find out what the limit is in your area), and there is mortgage insurance fees, but it’s only a slightly higher monthly payment than a standard 30-year-fixed loan.

• Ask about LPMI – Lender-Paid Mortgage Insurance is different than Private Mortgage Insurance, in that your lender pays for it and passes on the cost to you in the form of a slightly higher rate. LPMI can be cheaper than PMI, but remember one thing: If you pay a loan down long enough, PMI goes away (you’ve paid in enough to have bought 20% of your home, therefore, no more PMI). LPMI lasts until you sell the place or pay off the entire mortgage. For most young homebuyers, this isn’t a huge concern, since the first place you buy is usually not your last.

• Check in with a mortgage broker – A mortgage broker is someone who shops around from bank to bank and tries to find the best mortgage for you. These brokers come with a price tag. While you often don’t have to pay them anything out of your own pocket, the mortgage broker does make money off of your loan, in the form of rebates or commissions from the bank and built-in fees.

Sometimes, that’s ok, since the broker is going to find you such a sweet loan that, even with the fees and rebates, it’s still a better deal than what you’d find on your own. Another reason brokers can be useful is if you have lousy credit—they can find lenders who won’t laugh the moment they see your FICO score.

Why wouldn’t you go to a broker? Well, you might find a better loan yourself, or through a deal your employer has with a bank. Bottom line: You’re not obligated to get a loan from a mortgage broker who’s offered to try and help you, so have one shop around for you, but also do some research on your own. Whoever finds the best mortgage wins.

Also, don’t forget to:

Compare estimates of closing costs – Closing on your mortgage always involves an assortment of little fees and charges. One way to get a sense of what those fees and charges will be is to look over what is called a Good Faith Estimate, which any prospective lender or mortgage broker should provide. The estimate is just that, an estimate, but it can be a good way to compare the total costs of two loans if they have the same rate and term.

Watch for junk fees – Some lenders and mortgage brokers love to add in a slew of little fees at the last minute. Don’t let them get away with it. Go over each fee and make sure someone tells you exactly what it’s for, and who collects it. Keep a sharp eye out for generic fees such as “administrative” or “processing” fees—those are often bogus, and can be reduced or even eliminated if you make enough of a stink about it. Remember—most fees are negotiable.

Want to Know More?

• What is a Mortgage?
• How to Get a Mortgage
• Questions to Ask When Shopping for a Mortgage .