<human>: So I have looked on here for thoughts on buying a home with no down payment and the advice given seems split, but then I started looking for anyone with relatable experiences.  The issues I have noticed are most people on here are looking/living at/in high cost areas (cost of living, housing, etc.). So I decided to post myself just to get input. 

Note: I have not made any decision yet, just weighing the odds

Anyway, I am a single male, engineer, making 62K a year living in the south. Cost of living is not that high and I am tired of renting.  The biggest issue with renting in the area is that the demand is high and so the costs are thus high, plus I have a dog and cat which make finding a place a pain.

I am paying $1200 a month right now for a crappy 2BR place and after speaking with a lot of coworkers, they think I should just buy.  I have 7K in savings right now, and am paying ~385 a month toward student loans and car loan.  Utilities are low here (25 for water and 90 for electricity a month) and I will be getting rid of Uverse (big mistake) in February to save myself 220 a month.

There are quite a bit of houses here I am looking at for around 130K, but I do not have a down payment. I do not want to use my savings, and so was looking at FHA and RD loans with 0% down. According to mortgage calculators I could be paying less than 1K a month including insurance and taxes. It seems like a easy decision, but I'm still hesitant. I'm very cautious in big decisions and always have been.

So what would you do in this situation?

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<bot>: Making 62K/year, tired of renting for 1200/month, have 7K savings, looking at buying a home under 130K with no down payment