In California the norm is putting 20% down payment ; however some banks agree on 10%
down on the Jumbo loans with adding the rate and PMI ( Mortgage Insurance) .
With FHA Loan the down payment can be as low as 3% with its conditions. for example in
Santa Clara county the threshold of the home price to be eligible for FHA Loan is around
$970 k I believe ( A Mortgage agent can correct me if I am wrong?!)
But the bottom line is that in this crazy seller market, the winner is the one who
carries more cash and puts more than 20% down payment!!!