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Down Payment Calculator: How Much Down Payment Do You Need for a House in 2026?
Down Payment Calculator
Find out exactly how much you need to save for a down payment, including closing costs. Compare 3%, 5%, 10%, and 20% scenarios — and see when you'll reach your goal.
Typically 2–5% of purchase price
The down payment is one of the largest upfront costs in buying a home, and the amount you put down shapes everything — your monthly mortgage payment, whether you pay private mortgage insurance (PMI), your interest rate, and your total long-term cost. Whether you're a first-time home buyer trying to figure out the minimum down payment, or an experienced buyer deciding between 10% and 20% down, understanding the full picture is essential. This guide explains every dimension of down payments: minimum down payment requirements by loan type, the real cost of PMI, how to save faster, down payment assistance programs, gifts from family, FHA loan down payments, and what total cash you'll need at the closing table.
Our down payment calculator helps you model different scenarios — enter the home price, desired down payment percentage, and loan type to instantly see your loan amount, estimated monthly payment, and whether PMI applies. Paired with the detailed education below, you'll be able to make a confident, well-informed decision about how much to put down on your next home purchase.
Table of Contents
- Why Down Payment Size Matters
- Minimum Down Payment Requirements by Loan Type
- The 20% Down Payment Rule and PMI Explained
- How Your Down Payment Affects Monthly Payments
- Closing Costs: The Other Cash You Need at Closing
- Total Cash Needed at Closing
- Down Payment Assistance Programs
- Saving for a Down Payment: A Strategic Plan
- How Long Will It Take to Save?
- Investing Your Down Payment Savings
- Down Payment Gifts from Family Members
- First-Time Home Buyer Programs
- Down Payment by Home Price: Real Scenarios
- FHA Loan Down Payment Deep Dive
- VA and USDA Zero Down Payment Loans
- Conventional Loan Down Payment Options
- Should You Put Down More Than 20%?
- FAQ — Down Payment Questions Answered
1. Why Down Payment Size Matters
Your down payment percentage is one of the most consequential decisions in the home-buying process. It directly determines your loan-to-value ratio (LTV), which lenders use to assess risk. A larger down payment signals financial stability to lenders and typically unlocks better interest rates. A smaller down payment gets you into a home sooner but increases monthly costs, adds PMI expenses, and means you build equity more slowly.
Beyond the lender's perspective, the down payment affects your personal financial security. Putting too much down may drain your emergency fund and leave you "house poor," while putting too little down means carrying PMI for years. The right answer depends on your savings, income stability, local market conditions, and long-term goals.
Key Factors Influenced by Down Payment
| Factor | Smaller Down Payment | Larger Down Payment |
|---|---|---|
| Loan Amount | Higher | Lower |
| Monthly Payment | Higher | Lower |
| PMI Required | Yes (below 20%) | No (20%+) |
| Interest Rate | Slightly Higher | Slightly Lower |
| Equity at Purchase | Low | High |
| Time to Save | Shorter | Longer |
| Cash Reserve After Closing | More Available | Less Available |
2. Minimum Down Payment Requirements by Loan Type
Not all mortgages require the same minimum down payment. The loan type you qualify for — based on your credit score, income, service history, or property location — dictates the minimum amount you must put down. FHA loans are popular among first-time buyers for their low 3.5% minimum. VA loans and USDA loans offer zero down payment to eligible borrowers. Conventional loans now offer 3% down options for qualified buyers.
Minimum Down Payment by Loan Type
| Loan Type | Minimum Down Payment | Credit Score Min. | Key Requirement | PMI/MIP? |
|---|---|---|---|---|
| Conventional (standard) | 5% | 620 | Good credit history | PMI if <20% |
| Conventional (Fannie/Freddie 97) | 3% | 620–640 | First-time buyer or low income | PMI required |
| FHA Loan | 3.5% | 580 (10% if 500–579) | Primary residence only | MIP for life* |
| VA Loan | 0% | No official minimum | Military/veteran/surviving spouse | No PMI (funding fee) |
| USDA Loan | 0% | 640 recommended | Rural/suburban areas, income limits | Guarantee fee |
| Jumbo Loan | 10–20% | 700+ | Loan above conforming limit | Varies |
*FHA MIP can be removed if you put 10%+ down and keep the loan for 11+ years; otherwise it lasts the life of the loan for loans originated after June 2013.
3. The 20% Down Payment Rule and PMI Explained
The famous 20% down payment rule exists because it eliminates the need for private mortgage insurance (PMI). PMI protects the lender — not you — in case you default. When your down payment is below 20%, lenders require PMI because you're considered a higher-risk borrower. PMI typically costs between 0.5% and 1.5% of the loan amount annually, adding meaningfully to your monthly payment.
For a $400,000 home with 10% down ($40,000), your loan is $360,000. PMI at 1% annually adds $3,600/year — or $300/month — to your costs. That's real money. However, don't let PMI alone dictate your decision. In a rising market, buying earlier with less down and paying PMI temporarily may cost less overall than waiting years to save 20%.
PMI Cost Estimates by Loan Size
| Loan Amount | PMI Rate | Annual PMI Cost | Monthly PMI Cost |
|---|---|---|---|
| $200,000 | 0.5% | $1,000 | $83 |
| $300,000 | 0.75% | $2,250 | $188 |
| $400,000 | 1.0% | $4,000 | $333 |
| $500,000 | 1.0% | $5,000 | $417 |
| $600,000 | 1.25% | $7,500 | $625 |
PMI is removed once your loan balance reaches 80% of the original home value (at the original purchase price), or when you reach 20% equity via appreciation if you request a new appraisal. Under the Homeowners Protection Act, lenders must automatically cancel PMI when your balance reaches 78% LTV.
4. How Your Down Payment Affects Monthly Payments
The relationship between down payment and monthly payment is straightforward: every dollar you put down reduces the loan principal, which reduces interest charges over time. Beyond the loan amount reduction, a larger down payment can qualify you for a lower interest rate (better LTV = lower risk to lender), further reducing your payment.
Below is a concrete example for a $400,000 home at a 7.0% interest rate over 30 years, showing how different down payment amounts change the monthly payment and total PMI cost.
Down Payment % vs. Monthly Payment vs. PMI on a $400,000 Home (7.0%, 30-year)
| Down Payment % | Down Payment $ | Loan Amount | P&I Payment | Monthly PMI | Total Monthly |
|---|---|---|---|---|---|
| 3% | $12,000 | $388,000 | $2,582 | $323 | $2,905 |
| 5% | $20,000 | $380,000 | $2,529 | $285 | $2,814 |
| 10% | $40,000 | $360,000 | $2,395 | $270 | $2,665 |
| 15% | $60,000 | $340,000 | $2,262 | $213 | $2,475 |
| 20% | $80,000 | $320,000 | $2,129 | $0 | $2,129 |
| 25% | $100,000 | $300,000 | $1,996 | $0 | $1,996 |
5. Closing Costs: The Other Cash You Need at Closing
Many first-time buyers are surprised to learn that the down payment is not the only cash required at closing. Closing costs typically add 2%–5% of the loan amount to your upfront expenses. These fees cover lender origination charges, title insurance, appraisal, attorney fees (in some states), prepaid taxes and insurance, and more. Failing to budget for closing costs can derail a purchase even when the down payment is ready.
Some closing costs are negotiable, and sellers can sometimes be persuaded to cover a portion ("seller concessions"). You can also roll some costs into the loan via a higher interest rate (lender credits), but this increases long-term cost.
Estimated Closing Cost Breakdown
| Closing Cost Item | Typical Cost Range | Notes |
|---|---|---|
| Loan Origination Fee | 0.5%–1.5% of loan | Negotiable with lender |
| Appraisal Fee | $400–$800 | Required by lender |
| Home Inspection | $300–$600 | Highly recommended |
| Title Search & Insurance | $700–$1,500 | Protects ownership claim |
| Attorney/Settlement Fee | $500–$1,500 | Required in some states |
| Recording Fees | $100–$300 | Government filing charge |
| Prepaid Property Taxes | 2–6 months | Held in escrow |
| Prepaid Homeowners Insurance | 12 months upfront | 1st year premium |
| Mortgage Points (optional) | 1% per point | Buys down interest rate |
| Total Estimate | 2%–5% of loan |
6. Total Cash Needed at Closing
When planning your home purchase, calculate total cash needed at closing, not just the down payment. Add your down payment to estimated closing costs, and keep a cushion for moving expenses and immediate repairs. Lenders want to see that you have sufficient reserves — typically 2–6 months of mortgage payments — even after closing.
Total Cash Needed at Closing by Home Price and Down Payment
| Home Price | Down Payment % | Down Payment $ | Closing Costs (3%) | Total Cash Needed |
|---|---|---|---|---|
| $250,000 | 3% | $7,500 | $7,275 | ~$14,775 |
| $350,000 | 5% | $17,500 | $9,975 | ~$27,475 |
| $400,000 | 10% | $40,000 | $10,800 | ~$50,800 |
| $500,000 | 20% | $100,000 | $12,000 | ~$112,000 |
| $700,000 | 20% | $140,000 | $16,800 | ~$156,800 |
7. Down Payment Assistance Programs
Down payment assistance (DPA) programs help eligible buyers cover part or all of the down payment and sometimes closing costs. These programs are offered by state housing finance agencies, local governments, nonprofits, and some employers. Assistance typically comes as grants (free money), forgivable loans (forgiven after you stay in the home a set period), or deferred loans (repaid when you sell or refinance).
Eligibility requirements vary by program but often include income limits (typically 80%–120% of area median income), purchase price limits, completion of a homebuyer education course, and using an approved lender. Many programs are designed for first-time buyers, though some are available to repeat buyers in targeted areas.
Down Payment Assistance Program Types
| Program Type | How It Works | Repayment Required? | Common Amount |
|---|---|---|---|
| Grant | Free money, no repayment | No | $2,500–$15,000 |
| Forgivable Loan | 0% loan forgiven after X years | No, if conditions met | 3%–5% of purchase price |
| Deferred Loan | 0% loan due at sale or refi | Yes, at sale/refi | $5,000–$20,000 |
| Matched Savings (IDA) | Savings matched by program | No | 2:1 or 3:1 match |
| Employer Assistance | Employer contributes to down payment | Sometimes | $2,500–$10,000 |
8. Saving for a Down Payment: A Strategic Plan
Saving a down payment requires intentional planning, especially in expensive markets. The key levers are: income, monthly savings rate, investment return on savings, and timeline. Most buyers find it helpful to open a dedicated high-yield savings account (HYSA) or money market account earning 4%–5% APY, automate transfers on payday, and avoid dipping into the fund.
Start by defining your target: if you want to buy a $350,000 home with 10% down, you need $35,000 for down payment plus ~$10,500 for closing costs = $45,500 total. Work backward to a monthly savings requirement. Consider cutting major expenses — housing, car, subscriptions — and boosting income via side work or raises.
Down Payment Savings Timeline by Monthly Contribution (Target: $40,000)
| Monthly Savings | Interest Rate (HYSA) | Months to $40k | Years to $40k |
|---|---|---|---|
| $500 | 4.5% | 71 | 5.9 |
| $750 | 4.5% | 47 | 3.9 |
| $1,000 | 4.5% | 35 | 2.9 |
| $1,500 | 4.5% | 23 | 1.9 |
| $2,000 | 4.5% | 17 | 1.4 |
9. How Long Will It Take to Save?
The time it takes to save a down payment depends on your target amount and monthly savings capacity. For median-priced homes in high-cost cities like San Francisco or New York, even 5% down could represent $50,000–$70,000 — a multi-year endeavor for most households. In lower-cost markets, a 3% down payment might be achievable in under a year.
One important consideration: while you're saving, home prices may be rising. If prices increase 5% per year and your 10% down payment target grows with the price, the goalpost moves. In these scenarios, buying sooner with less down and paying PMI may be mathematically superior to waiting for 20%.
Savings Timeline by Home Price and Monthly Savings (3% Down + 3% Closing Costs)
| Home Price | Total Needed (6%) | $500/mo | $1,000/mo | $1,500/mo | $2,000/mo |
|---|---|---|---|---|---|
| $200,000 | $12,000 | 2.0 yrs | 1.0 yr | 8 mo | 6 mo |
| $300,000 | $18,000 | 3.0 yrs | 1.5 yrs | 12 mo | 9 mo |
| $400,000 | $24,000 | 4.0 yrs | 2.0 yrs | 16 mo | 12 mo |
| $500,000 | $30,000 | 5.0 yrs | 2.5 yrs | 20 mo | 15 mo |
10. Investing Your Down Payment Savings
Where you keep your down payment savings matters, especially for longer timelines. For savings needed within 1–2 years, keep funds in a high-yield savings account, money market account, or short-term CDs — capital preservation is paramount. For a 3–5 year timeline, a conservative allocation with some bond funds may be appropriate. For timelines beyond 5 years, some exposure to equities can help savings keep pace with housing price appreciation, though volatility risk is real.
Never invest near-term down payment funds in volatile assets. A market downturn right before your planned purchase could leave you underwater on your savings and force you to delay the purchase or reduce your down payment.
Savings Vehicle by Timeline
| Timeline | Recommended Vehicle | Expected Return | Risk Level |
|---|---|---|---|
| 0–1 year | HYSA, Money Market | 4%–5% | Very Low |
| 1–2 years | HYSA, Short-term CDs | 4%–5% | Very Low |
| 2–4 years | CD ladder, I-Bonds, Short-term bonds | 3%–5% | Low |
| 4–7 years | Conservative balanced fund | 4%–7% | Low–Medium |
| 7+ years | Diversified index funds | 7%–10% | Medium–High |
11. Down Payment Gifts from Family Members
Many buyers receive a down payment gift from parents or family. Most loan programs allow gifted funds, but the rules and documentation requirements vary. For conventional loans, FHA loans, and VA loans, the gift must typically come from a family member (parent, sibling, grandparent, spouse), be accompanied by a gift letter stating no repayment is expected, and be traceable — meaning the lender will want to see the funds deposited and verified before closing.
Gift tax rules also apply. In 2026, the annual gift tax exclusion is $18,000 per giver per recipient. Gifts above this amount require the giver to file a gift tax return (Form 709), though no tax is typically owed unless the lifetime exemption is exceeded. Buyers should consult a tax advisor about large gifts.
Gift Funds Rules by Loan Type
| Loan Type | Gifts Allowed? | Eligible Givers | Minimum Borrower Contribution |
|---|---|---|---|
| Conventional (<20% down) | Yes | Family members | Varies by program |
| Conventional (20%+ down) | Yes | Family, friends | None required |
| FHA | Yes | Family, employer, charity | None (all can be gift) |
| VA | Yes | Family members | None required |
| USDA | Yes | Family members | None required |
12. First-Time Home Buyer Programs
First-time home buyer programs offer reduced down payments, favorable interest rates, tax credits, and assistance with closing costs. The definition of "first-time buyer" is often broader than expected — many programs define it as someone who hasn't owned a primary residence in the past 3 years. This means divorced individuals, people who previously rented, or those who sold a home years ago may qualify.
Notable national programs include Fannie Mae HomeReady (3% down, flexible income sources), Freddie Mac Home Possible (3% down, low-income focus), FHA loans (3.5% down, flexible credit), and state-level programs that vary significantly by location. The HUD website maintains a database of state and local homebuyer programs.
Popular First-Time Buyer Programs Comparison
| Program | Min. Down Payment | Income Limit? | Credit Score | PMI Required? |
|---|---|---|---|---|
| FHA Loan | 3.5% | No | 580+ | MIP (yes) |
| Fannie Mae HomeReady | 3% | 80% AMI | 620+ | Reduced PMI |
| Freddie Mac Home Possible | 3% | 80% AMI | 620+ | Reduced PMI |
| VA Loan | 0% | No | No official min | No |
| USDA Loan | 0% | 115% AMI | 640+ | Guarantee fee |
| State DPA Programs | Varies (0–5%) | Usually yes | 620–640+ | Varies |
13. Down Payment by Home Price: Real Scenarios
To make the numbers concrete, here are real down payment scenarios across a range of home prices. Each scenario shows the minimum down payment, a 10% option, and the 20% no-PMI option, along with estimated monthly payments at a 7.0% rate (P&I only) and approximate PMI where applicable.
Down Payment Amounts by Home Price Scenario
| Home Price | 3.5% Down (FHA) | 10% Down | 20% Down | Monthly P&I (20% down) |
|---|---|---|---|---|
| $200,000 | $7,000 | $20,000 | $40,000 | $1,065 |
| $300,000 | $10,500 | $30,000 | $60,000 | $1,597 |
| $400,000 | $14,000 | $40,000 | $80,000 | $2,129 |
| $500,000 | $17,500 | $50,000 | $100,000 | $2,661 |
| $600,000 | $21,000 | $60,000 | $120,000 | $3,194 |
| $750,000 | $26,250 | $75,000 | $150,000 | $3,992 |
| $1,000,000 | N/A (jumbo) | $100,000 | $200,000 | $5,322 |
14. FHA Loan Down Payment Deep Dive
The FHA loan down payment of 3.5% is one of the most accessible entry points for home ownership. Backed by the Federal Housing Administration, FHA loans allow lower credit scores (as low as 580 for the 3.5% down option, or 500–579 with 10% down) and more flexible debt-to-income ratios than conventional loans. This makes them especially popular with first-time buyers, buyers with past credit issues, and lower-income borrowers.
The trade-off is the mortgage insurance premium (MIP): an upfront MIP of 1.75% of the loan amount (financed into the loan) plus an annual MIP of 0.55%–1.05% depending on loan term and LTV. For loans with less than 10% down, MIP lasts for the life of the loan — a significant long-term cost that makes refinancing to a conventional loan later often worth considering once you've built 20% equity.
FHA MIP Rates (Annual) by Loan Term and LTV
| Loan Term | LTV | Annual MIP Rate | Duration |
|---|---|---|---|
| 30-year | >95% (less than 5% down) | 0.55% | Life of loan |
| 30-year | 90%–95% (5–10% down) | 0.50% | Life of loan |
| 30-year | ≤90% (10%+ down) | 0.50% | 11 years |
| 15-year | >90% | 0.40% | Life of loan |
| 15-year | ≤90% | 0.15% | 11 years |
15. VA and USDA Zero Down Payment Loans
VA loans are arguably the best mortgage product available — eligible veterans, active-duty service members, and surviving spouses can purchase a home with zero down payment and no PMI. The only significant upfront cost is the VA funding fee (1.25%–3.3% of the loan, based on usage and down payment), which can be financed. VA loans also offer competitive interest rates and flexible underwriting.
USDA loans offer zero down payment to buyers purchasing in eligible rural and suburban areas (more areas qualify than most people expect) within income limits. USDA loans charge an upfront guarantee fee of 1% and an annual fee of 0.35% — lower than FHA MIP. Both programs make homeownership attainable without years of saving.
VA vs USDA Loan Comparison
| Feature | VA Loan | USDA Loan |
|---|---|---|
| Down Payment | 0% | 0% |
| Eligibility | Military/veterans/surviving spouses | Rural/suburban location + income limit |
| PMI/MIP | No PMI | Annual guarantee fee (0.35%) |
| Upfront Fee | Funding fee (1.25%–3.3%) | 1% guarantee fee |
| Credit Score | No official minimum | 640+ recommended |
| Income Limit | None | 115% of area median income |
| Property Location | No restriction | Rural/suburban eligible areas only |
16. Conventional Loan Down Payment Options
Conventional loans — those not backed by a government agency — offer the most flexibility and are the most common loan type. Down payment options range from 3% (Fannie Mae 97, Freddie Mac Home Possible) to 20%+ for jumbo loans. With a 20% down payment, PMI is eliminated entirely. Conventional loans at 10%–19% down require PMI but at lower rates than FHA MIP, and PMI can be canceled once you reach 20% equity — unlike FHA MIP which may last the life of the loan.
Conventional loans require stronger credit (typically 620+ minimum, 740+ for best rates) and lower debt-to-income ratios. For buyers with excellent credit and stable income, conventional loans often prove more cost-effective than FHA loans even at lower down payments, once you factor in the lower MIP/PMI rates and ability to cancel insurance.
Conventional Loan Down Payment and PMI Overview
| Down Payment | LTV | PMI Required? | Approx. PMI Rate | PMI Cancellation |
|---|---|---|---|---|
| 3% | 97% | Yes | 0.85%–1.5% | At 80% LTV |
| 5% | 95% | Yes | 0.75%–1.2% | At 80% LTV |
| 10% | 90% | Yes | 0.5%–0.9% | At 80% LTV |
| 15% | 85% | Yes | 0.3%–0.6% | At 80% LTV |
| 20% | 80% | No | $0 | N/A |
| 25%+ | 75% or less | No | $0 | N/A |
17. Should You Put Down More Than 20%?
Once you've crossed the 20% threshold and eliminated PMI, the question becomes: is it worth putting down even more? Putting down 25%, 30%, or more reduces your loan balance and monthly payment further, may improve your interest rate slightly (some lenders offer better pricing at 75% or lower LTV), and reduces total interest paid over the life of the loan.
However, the marginal benefit diminishes. The money you tie up in home equity is illiquid — you can't access it without selling or taking out a HELOC or cash-out refinance, both of which carry costs. If your investments earn more than your mortgage interest rate (adjusted for the tax deduction, if applicable), keeping money invested may generate better returns than paying down the mortgage faster. Most financial advisors suggest maintaining 3–6 months of liquid emergency reserves and maximizing tax-advantaged accounts (401k, IRA) before making oversized down payments.
Opportunity Cost of Extra Down Payment (30-Year, 7.0% Rate)
| Extra Down Payment | Monthly Payment Reduction | Interest Saved (30yr) | Lost Investment Return (7% annually) |
|---|---|---|---|
| $10,000 extra | ~$67/mo | ~$24,000 | ~$76,000 (30-yr) |
| $25,000 extra | ~$166/mo | ~$59,800 | ~$190,000 (30-yr) |
| $50,000 extra | ~$333/mo | ~$119,800 | ~$380,000 (30-yr) |
18. FAQ — Down Payment Questions Answered
What is the minimum down payment for a house?
The minimum down payment depends on the loan type. FHA loans require as little as 3.5% (with a 580+ credit score). Conventional loans can go as low as 3% under Fannie Mae or Freddie Mac programs. VA and USDA loans offer 0% down to eligible buyers. Most conventional loans require at least 5% without special programs.
Is a 20% down payment required to buy a house?
No, a 20% down payment is not required. It is a benchmark that eliminates PMI and reduces monthly costs, but millions of buyers purchase homes with 3%–10% down. The 20% rule is a guideline, not a requirement — especially for first-time buyers using FHA, VA, USDA, or low-down-payment conventional loans.
How much should I save before buying a house?
Beyond the down payment, plan to save for closing costs (2%–5% of loan amount), moving expenses ($1,000–$5,000), an emergency repair fund (1%–2% of home value annually), and 2–3 months of mortgage payments as a reserve. Total preparation savings of 10%–15% of the purchase price is a reasonable target.
What is PMI and can I avoid it?
Private mortgage insurance (PMI) is required on conventional loans when the down payment is below 20%. It costs roughly 0.5%–1.5% annually. You can avoid PMI by: putting 20% down, using a VA loan (no PMI ever), using a piggyback loan structure (80/10/10), or choosing lender-paid PMI (higher rate, no separate PMI fee).
Can I use gift money for a down payment?
Yes. Most loan programs allow gifted down payment funds from family members. You'll need a signed gift letter stating the money is a gift, not a loan. FHA allows 100% of the down payment to be gifted. Conventional loans may require some of your own funds depending on the down payment percentage and program.
What is down payment assistance?
Down payment assistance (DPA) programs provide grants, forgivable loans, or deferred loans to help eligible buyers cover the down payment and closing costs. Programs are offered by state housing agencies, local governments, and nonprofits. Most have income limits and require completion of a homebuyer education course. Search HUD.gov for programs in your state.
How does down payment affect my mortgage rate?
A larger down payment generally qualifies you for a slightly lower interest rate because it reduces the lender's risk. The biggest improvement comes from reaching key LTV thresholds: 95%, 90%, 85%, 80%, and 75%. Borrowers with 20%+ down and excellent credit typically receive the best rates available.
Should I put down more to avoid PMI or buy sooner with less down?
This depends on your local market conditions. In rapidly appreciating markets, buying sooner with less down and paying PMI may cost less than waiting years to save 20% while prices rise. In flat or declining markets, waiting to save more may make sense. Use a cost comparison: weigh months of PMI payments against estimated home price appreciation.
Are closing costs included in the down payment?
No. Closing costs are separate from the down payment. They typically add 2%–5% of the loan amount to your upfront cash requirement. Both must be paid at closing, so budget for both. Some programs allow closing costs to be financed or covered by seller concessions, reducing out-of-pocket cash at closing.
What is the average down payment for first-time buyers?
According to the National Association of Realtors, the average down payment for first-time buyers is approximately 6%–8%, while repeat buyers average 17%–19%. Many first-time buyers use FHA loans (3.5% down) or low-down conventional programs (3%–5% down), especially in high-cost markets where saving 20% takes many years.
Educational disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial, mortgage, or legal advice. Mortgage programs, rates, and requirements change frequently. Down payment requirements and assistance programs vary by location, lender, and borrower circumstances. Always consult a licensed mortgage professional, HUD-approved housing counselor, and/or financial advisor before making any home purchase or financial decision. Use our calculator as a starting point, not a definitive answer.