From what I hear 25% is the new standard. However, new construction can be a little different. Often the builder has deals with the lenders and may be able to get you in there for 20%. I am familiar with all of the new developments in Carlsbad. Many of them are very negotiable, so don't think the 1.1 mill price tag is set in stone. I've gotten deals for clients with lots of the asking price. Drop me a line, tell me who the builder is. I probably know their bottom line price. Some are a lot more negotiable than others. Also, i have a great loan guy who is great at finding the good loan deals. I always recommend him to my clients. he doesn't charge points and he is an incredibly hard worker.
PS. I LOVE those new homes in Carlsbad! In my opinion they are the best deals out there.
Also keep some money aside for things you will probably have to do after closing on a new home like window coverings and backyard landscaping. It's amazing how quickly you can spend $50,000 on a nice yard. And $400 per window on some nice shutters or shades is not unheard of.
I'll let the lenders online here answer your loan questions. Did you know that you can have buyer's representation when working with builders? Be sure to take your Realtor with you on your first trip particularly if there is a sales office. A buyer's representative can negotiate on the price and other options/ upgrades on your behalf and structure the offer for maximum protection for you. If given a choice the CAR Contract is usually better for the buyer than a builder's standard contract. You should be able to negotiate strong with a builder in La Costa. Good luck!
You can get the house you desire but you are going to have to be discriminatory with the lender you choose. In the market right now, what you want to get is one of the new Agency Jumbo loans ($697,500 in San Diego county at the moment) and a subordinate lien for as much as you can get. The Agency Jumbo will actually let you get up to 90% Loan to Value but you would have to find a lender with a second mortgage for as much as you are looking for. This is probably only going to be available through the retail side of a mortgage bank.
Right now at Flagstar, we have 2nds up to $250,000 and 90% CLTV, meaning that you can get about $950,000 in San Diego County for a very good rate. If you bought a 1.1M home, then you could (and I would suggest doing so) put $150,000 down and keep the difference. You do not want to think about ever refinancing in this market. If you bought your home for 1.05M then you could still get your $950,000 and only have to put down $100,000.
I would love the opportunity to speak with you further about our loan products. I don't know other lenders offering 2nds but I'm sure they exist. Don't forget that you would have NO mortgage insurance.
Please call me or email me if you would like more information.