Home Loans
How much do I need for a down payment?
Context
Down payment size is often the biggest perceived barrier to buying a home.
The short answer
Down payment requirements depend on the loan type. Conventional loans typically require 3-20%, FHA loans require 3.5%, VA loans often require 0%, and first-time buyer programs vary.
Things to keep in mind
Exact requirements depend on the lender and program; many borrowers can qualify with less than they think.
Next step
We shop lenders to find programs that match your savings — contact DMF to see your options.
Have a question about your own situation?
DMF serves Minnesota homebuyers and homeowners by shopping your purchase or refinance file across multiple wholesale lenders — not a single bank's product menu.
Davis Monroe Financial, LLC is a mortgage broker, not a lender. We do not make credit decisions or fund loans. Rate locks are issued by the lender; we submit and manage lock requests on your behalf. All loans are subject to credit approval. Rates and terms are subject to change without notice.