Down Payment & Assistance
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 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.