[RunItUpTheGut]

Ive found the best option for me was to go through my bank, pay 15-20% down, and refinance with a mortgage company at really low interest rates 7 years later.

As far as your friends are concerned, it really depends on how old they are and there credit.
I bought my house when i was a mere 19 years old, and had to pay something like 15% down on a 7 year ARM. I refinanced threw a mortgage company and not only did my monthly payments drop signifcantly, my years also dropped, so it was a win-win for me.

If they are stable and older, with good credit, i see no reason they could get a good mortage rate threw just about any mortage company with nothing down and low monthly payments. That is ofcourse if they make enough.