Most mortgage insurance companies have placed restrictions on the maximum loan-to-value ratio (LTV) for condominiums in declining markets.  At the moment, it is 90%, meaning a buyer needs 10% down if they are purchasing a condo.  However, as long as the property is in an FHA-approved condominium project, 100% financing can still be obtained with an FHA or a VA loan.  Neither of these loan programs have declining market restrictions.  FHA does require a mandatory 3% contribution by the buyer, but the seller is allowed to contribute that 3% to a down payment assistance program such as Nehemiah.  VA does not require a down payment.