conventional mortgage with down payments below 5%

Generally speaking, no... But there are two possible options. The first is if the home is a Fannie Mae foreclosure, and you see a HomePath eligible sign on it, or if your state offers a community assistance program for those who qualify. Both of these options allow just 3% down conventional... But obviously this isn't every person, or every home, so expect to need at least 5% down payment. www.Minneapolis-Mortgage.net

yes, but the options are limited to loans usually of 417k or less and the mortgage insurance is expensive. www.helphousing.net

No... All conventional lending programs now require 5% down. This was a recent change, since in the past you could put as little as 3% down (HomePath), but that changed November 2013 with the implementation of DU 9.1. Here's the Link. https://www.fanniemae.com/content/eligibility_information/homepath-mortgage-matrix.pdf .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com