(1)  Starting November 2013 Fannie Mae down payment goes form 97% LTV to NOW a minimum down payment of 5%.  This will drive higher credit profiles to FHA, but is still a reasonable down payment.  (2)  Lenders are competing, so call for the best rate if you need to refinance a home that you owe LESS than $625,500.  It is the HARP Refinance Loan.  No out-of-pocket closing costs, close in 30 days or less and more.  Just call YOUR lender.