What’s the minimum I need to put down on a home? Do I need 20% saved up?

You do not need to put 20% down to buy a home.

Many loan programs allow as little as 5% down and some go even lower (3%) for first time home buyers. FHA loans only require a minimum of 3.5% down.

Minimum Down Payment Requirements are:

  • 0% for Veterans
    • 0% if buying in approved rural areas, look up “USDA loan eligibility map”
    • 3% for First Time Home Buyers
    • 5% for repeat Home Buyers
    • 15% for Real Estate Investors (we recommend 20%+ for better loan terms)
    • 10% for Vacation Homes (we recommend 20%+ for better loan terms)

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