Getting a conventional or jumbo loan up to 85% or 90% is difficult at best but possible.
One program available that comes to mind is will go up $1,000,000 loan amount up to 85% combined loan to value. Essentially, in this case it would be 80/85/15. Credit scores must be a minimum of 720, and the debt ratios must be in line demonstrating the homebuyer can afford the payments.
Otherwise, $750,000 loan amount up to 10% down= 80/10/10. The advantage to this type of financing over an FHA which allows up $729,000 with one loan and only 3.5% down in Orange and LA Counties, is there is NO Mortgage Insurance!!! That would represent thousands of dollars, and tens of thousands of dollars of savings over the life of the loan.
In summary, while there are programs available for lower down payments, they do require well qualified buyers/borrowers who are ready to tackle the loan process with all their financial documentation ready to go!
Sr Mortgage Lender