How much should I put down on a house?
Enter a home price to compare down payment options for common loan types and see how each choice changes the mortgage you would need.
Estimated down payment options
Enter a home price to see real numbers for each loan type.
Frequently Asked Questions
Do I have to put 20% down to buy a house?
No. 20% down avoids private mortgage insurance on conventional loans, but many buyers put down far less. Conventional programs allow 5% or less for qualified buyers, FHA loans allow 3.5% down with credit scores of 580 and above, and VA and USDA loans can require nothing down for eligible buyers.
What is PMI and how do I avoid it?
Private mortgage insurance protects the lender when you put down less than 20% on a conventional loan, and it adds to your monthly payment. You can avoid it by putting 20% down, or remove it later once you build enough equity in the home.
Is a bigger down payment always better?
A bigger down payment means a smaller loan, a lower monthly payment, and less interest over time. But draining your savings to get there can backfire. Keep enough cash for closing costs, moving, repairs, and an emergency fund before maximizing the down payment.
What other cash do I need besides the down payment?
Plan for closing costs, which often run 2% to 5% of the purchase price, plus moving expenses, immediate repairs or furnishings, and prepaid items like insurance and property taxes that lenders collect at closing.
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