"No, I don't know anyone doing 5% jumbo's ... and even 10% down is rare. If
they can put 10% down, and their other qualifications are good ... then we
have a chance." Please call me if this works for you & I'll put you in touch with that lender.
If you are a Veteran then I would go with a "VA Jumbo". The down payment requirement is only 25% of the portion the VA guarantee doesn't cover. It's a little confusing, so say for a $500k home in Clackamas County with a county loan limit of $417k, the down payment would be based on 25% of $83k or $20,750 assuming you have full entitlement. This won't carry MI as with any VA loan plus it carries a comparable rate.
If you would like more help feel free to contact me.
Minimum down payment is 20%, some programs 25% on jumbo loans. Should you decide to move to the area, I'd be pleased to help you find appropriate property. email@example.com