Saw this on Facebook new program:
First Time Homebuyers - New Conventional ZERO $ Minimum Investment from Borrower:

Starting Dec 1st, Wenhe Mortgage and Realty will be offering a conventional product that allows for ZERO minimum investment from the borrower. It will be conventional 95% LTV, where the 5% can be a gift. There are some additional requirements on loans where the borrower does not contribute their own funds into the ...transaction.

Additional Requirements:

Minimum 720 FICO
Maximum 41% DTI
Minimum 2 Months Reserves (reserves may be gifted)

The additional requirements are only for borrowers who are having their minimum investment gifted, and/or who are not contributing their own funds toward their minimum investment into the transaction.

Maximum loan amount is $417000.
For California residents only.