20% down payment is fake news.
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I’ve never seen this much quality data in one source:
25% of buyers use FHA and 80% of them are first-time buyers. FHA offers may not be viable in the bay area, but they are in a lot of markets.
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less strict lending standards? 
I almost did 10% down, since there’s a jumbo program with no PMI. It takes a 800+ credit score and 2 years of reserves. The issue was they wouldn’t count the rental income until there’s 2 years of history for my DTI was crazy high. They only allow 38%. While a jumbo mortgage is normal in some markets, overall they are a tiny percent of loans.
FHA has been around a LONG time. The government guarantees all the mortgages, so tax payers are on the hook if people default.