No down payment loan are hard to come buy today. It’s hard to find second loans without high fico scores. Almost everyone bidding on properties like these have a minimun of 20% down. The bank wanted a pre-qual through their preferred lender. He actually mentioned that all the pre-quals up to that time had 20% or more. I also mentioned that there was a cash buyer. My take on it is I think the bank went back to the cash buyer and asked him to match highest bid. There have been a lot of pendings coming back on the market and I’m not sure why, but my guess would be that the buyer couldn’t perform. Stated loans are still available, but the lenders will go over the loans with a fine tooth comb. As far as me personnally 20% down is what we were going to do on this property. I’m a move up buyer and owe very little on my current residence SFR(less then 100k). If we purchase a home in the 600K range I would put down enough so we would only need to borrow 417K.