Down Payment
What is the lowest down payment I can make on a home?
Context
How little you can put down is often the deciding factor in when someone can afford to buy.
The short answer
It depends on the loan: VA and USDA can allow 0% down for eligible borrowers, FHA needs 3.5%, and several conventional programs (including HomeReady and Home Possible) allow as little as 3%.
Things to keep in mind
Lower down payments usually mean mortgage insurance, and eligibility for 0%-down programs is limited to qualifying borrowers.
Next step
DMF shops programs so you can weigh down payment, monthly cost, and cash to close together — contact us to compare.
Have a question about your own situation?
DMF serves Minnesota homebuyers and homeowners. We submit your purchase or refinance file to multiple wholesale lenders and compare what each one offers, so your pricing is not limited to one lender's rate sheet.
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.