All depends on the loan! 20% has never been a requirement. What type of loan are you talking about? You can put as little as 3.5% down with an FHA loan. But then of course you'll have a higher payment and also have to pay mortgage insurance. You can get a conventional loan for as little as 5%, 10% or 20% down. But anything under 20% you will have to have PMI (private mortgage insurance).
I have a great lender I can refer you to. Please contact me directly for her contact info.... more