When I made my first purchase in 2011, and lending was ultra tight, I was able to get a great rate and conforming loan with 5% down. And I was told I could even go a little lower. (I was prepared to put down 10-20%, but the 5% down made more sense.) FHA has long been 3%.
The difference between 3% and 0% isn’t nothing, but a full-doc loan with good income, I don’t see what the big deal is. The big problem with mortgage in the bubble was no-doc liar loans and the various flavors of negative amortization mortgages.
