As far as conventional or FHA, most higher end homes (condos) can pass the FHA inspection (appraisal), except for a few exceptions. But most higher end homes have buyers that will put down 10-20% if not more and those are always perceived as better offers by the bank (sellers).
Anything less than 20% down (with the exception of FHA financing) requires Private Mortgage Insurance (PMI). Most lenders are requiring atleast 10% down these days and then you would also get PMI however in order to qualify for PMI, you need to have a FICO score of atleast 720.
With FHA you only need 3% down. The property must also be approved for FHA financing. Your realtor can easily find this out. If you are not currently working with anyone, I'd be happy to find out for you. I can best be reached at 310-403-6988 or email me at Info@MyLosAngelesRealtors.com
Hope this helps!
ReMax Marquee Partners