[dolphinS4]

What happened last week in the mortgage market is not the case this week.
So basically, what your friend or your neighbor did doesn't necessarily mean the same for you today.

As for the 80/10/10 loans, best of luck. Most of the largest lenders like Citi Bank and Wells Fargo are not even writing secondary mortgages right now.
100% financing is something that is going to be very hard to come by today.
I closed a 100% financing loan in June that would not stand a chance today.

Without the 20%, your choices are going to be very slim. Even then, the lenders are looking at credit scores and verifiable assets closer than ever before. Your gonna need at minimum a 750 middle score and enough assets to cover 6 months of mortgage, after your down payment and closing cost.

rates right now are around 6.5/6.75, depending on your docs and credit score. Any loan greater than 80%ltv is gonna be in the 7's and anything greater than 90% ltv probably won't happen.

Cliffs: save for the 20% + closing cost.