Buying first time home in Southern California

[Jason Kim]

Hi All, 

I'm looking to buy a single family home in the southern california area (~500k range). I'm looking to see what options I have to leverage to purchase a home if I dont have a full 20% ($100k) for down payment.  

1. I understand FHA loans are available but how does that impact mortgage payments negatively / positively.

2. Instead of $100k down I put ~$60k down how does this help or not help the situation.  

3. Are there any other factors I can help contribute with purchasing the home but also lowering mortgage payments?  Understandably one of those areas is 30 year mortage.  

Thanks in advance.