Mark is right on this one. For the most part, FHA was designed to allow more people to qualify for new/used home mortgages at a time when banks were a bit more conservative on housing lending than at this current blip in time.
Currently there ARE non-FHA lenders out there willing to do so-called 0% equity loans, but I would recommend against that for the average single home owner (meaning owner of 1 home, not 1 person owner). There are usually higher fees, penalty points and, ineterest rates tied to those loans.
Also, just a note of caution (call it advanced warning) for those would-be new home owners regarding closing fees. Federal law requires full up-front disclosure on closing costs, but the rules are somewhat vague in some areas and many people end up being surprised by extra closing costs. Always insist that your closing agent send you a copy of the completed papers so that you have time to review them BEFORE you show up for closing. Review them carefuly for correct terms, fees, and total closing costs, and errors. Seems like a lot of grief, but remember that it will likely be the biggest single purchase you ever make, so it'* worth the extra time and effort up front.
Mike: 1997 SE w/ 183K, aka White Horse
, Gutted Airbox w/K&N, drilled 180* t-stat, tint all around, clear corners w/SilverStars, "PONTIAC" light up tail, PEMs, NGK TR55s