Just as @Sandra Lei M.and @Mathias Bekele have recommended, start with UBG and go through every last one of the podcast whenever you are in the car, at night or before class because this my friend is GOLD.

Its done in other industries like buy here, pay here car lots, and rent-a-center for electronics and furniture.

It's apparent that you guys are bad at giving things up (thus the credit card and car loans).  

I counted 28 cars at 9:45 am.

Either get in the car and drive around and see what you think.

Also, if you're like me and aren't in the car that much, the podcasts are on YouTube as well.. 

The advantage of the 5% downpayment over the FHA option is the PMI that would be on both loans, automatically falls off of the conventional loan once you reach about 20% equity in the property.  

I too use it and almost automatically discard every property I see because none of them meet it or even come close.

The 3br/ 1.5ba/ 1-car garage on1/2acre appeared huge compared to the 1br apartment they were sharing w/2kittens.

When the loan is paid off, the deed reverts to you much like a car loan.