Many first time home buyers think you need a 20% down payment to buy a home. The HomeReady and HomeOne progrrams only require 3% down payment and you can get a gift from family member or use down payment assistance for the down payment and closing costs. Also, you may not be aware that your loan payment only goes down about $50 per month for every 10 thousand dollars you put down so a big down payment doesn't really change your monthly payment that much.
Don't wait to buy a home because you think you need a large down payment to qualify for a loan. Finally, home prices and interest rates should continue to go up which will offset any benefits you may get from putting down a lot of money on a home.