Here are some tips and guidance on financing.  Are you better off renting Vs buying.  I believe that as a First Time Home Buyer it is important to get educated on the financing process.  Owning a home is always more beneficial because of the equity that you are building every year. However, buying a home is a long term process.  In order to see any gain you will need to stay put from 5-10 years. See link below for more guidance.
 

First Time Home Buyer Financing Guide