Good morning, Mike, and thank you for writing. The best loan program for you depends on several factors -- for example, the credit scores of everyone involved, the size of your down payment, and whether your parents will be on title to the home and on the mortgage. If you can answer these questions for me, I can give you more targeted information.
Assuming that your parents will be on title and the mortgage, there are several options -- both conventional (non-government) and government-backed.
First, you need to decide if you are all going to be co-signers or non-occupant co-borrowers, or just contribute sometimes to help the household. Co-signers have the highest risk, because if the borrowers fail to pay on time, their credit can be harmed. And if the borrower defaults, the co-signers are on the hook for the loan balance. Yet they have no ownership interest in the property.
Non-occupant co-borrowers are on title to the property and obligated by the mortgage. So you'd be able to have some ownership interest; the title company or attorney can help you divvy it up according to your wishes and contributions.
Conventional loans like Fannie Mae's HomeReady or Freddie Mac's Home Possible program with non-occupant co-borrowers require at least five percent down. Here is an article about this program that should help you:
FHA also lets families assist their loved ones with mortgages, and there is more flexibilty with credit and a lower down payment requirement. Here is information about the program:
Or, you can just complete this quick form
and get connected with lenders who can help you with all options available to you.
Good luck! And again, I can get more specific if I have more information.