How much down payment you need for a house
Enter the price, the loan type and your credit score: the minimum down payment in dollars, for all four loan types, and the monthly payment.
Minimum down payment
$10,500
3.5% of the price; the loan is $289,500.
| FHA: 3.5% | $10,500 |
| Conventional: 3% | $9,000 |
| VA: 0% | $0 |
| USDA: 0% | $0 |
| Monthly principal and interest | $2,004 |
FHA: 3.5% with a score of 580 or more, 10% from 500 to 579 (HUD Handbook 4000.1). Conventional: 3% with Fannie Mae and Freddie Mac low down payment loans. VA and USDA: no minimum down payment. Closing costs come on top.
Prepared by Radif Partners · Method · updated: HUD 2026 limits effective May 1, 2026 · Freddie Mac rate of October 15, 2026 · programs read on October 21, 2026
The minimum down payment depends on the loan, not on a rule of 20%. An FHA loan asks for 3.5% of the price with a credit score of 580 or more and 10% from 500 to 579. A conventional loan through Fannie Mae or Freddie Mac low down payment programs asks for 3%. VA loans for eligible veterans and service members and USDA loans in eligible rural areas ask for nothing. On a $300,000 home that is $10,500 with FHA, $9,000 conventional, against $60,000 for 20%. Putting less than 20% down means mortgage insurance, but waiting years to save 20% often costs more than the insurance. State down payment assistance is sized to cover exactly these minimums: most programs pay 3% to 5% of the price or the loan, enough to bring an FHA or 3% buyer close to zero out of pocket.
The minimum at five prices
| Home price | FHA, score 580+ | FHA, score 500 to 579 | Conventional 3% | 20% (no mortgage insurance) | FHA principal and interest |
|---|---|---|---|---|---|
| $200,000 | $7,000 | $20,000 | $6,000 | $40,000 | $1,336 |
| $300,000 | $10,500 | $30,000 | $9,000 | $60,000 | $2,004 |
| $400,000 | $14,000 | $40,000 | $12,000 | $80,000 | $2,673 |
| $500,000 | $17,500 | $50,000 | $15,000 | $100,000 | $3,341 |
| $650,000 | $22,750 | $65,000 | $19,500 | $130,000 | $4,343 |
The FHA column is what most assisted buyers pay, because most state programs pair their help with an FHA first mortgage. The cost of falling below a 580 score is visible in the third column: the minimum almost triples. The conventional 3% column applies to buyers who qualify for Fannie Mae HomeReady or Freddie Mac Home Possible, which have income limits, or for first-time buyers on standard 97% loans.
What the minimum does not include
Closing costs, usually a few percent of the price, are paid on top of the down payment: lender fees, title, appraisal, prepaid taxes and insurance. On an FHA loan the upfront mortgage insurance premium is normally financed into the loan, not paid in cash. Lenders may also ask for reserves, a cushion of a month or two of payments left in your account after closing. Many assistance programs can be used for closing costs as well, which is why the help often exceeds the down payment itself.
Your price, your loan
Minimum down payment
$12,000
| FHA: 3.5% | $14,000 |
| Conventional: 3% | $12,000 |
| VA: 0% | $0 |
| USDA: 0% | $0 |
Limits that cap the loan
An FHA loan cannot exceed the FHA limit of the county, $541,287 in low-cost areas and up to $1,249,125 in the most expensive; with 3.5% down the highest FHA-financed price in a ceiling county is therefore about $1,294,430. A conventional loan above the conforming limit becomes a jumbo loan, which usually needs 10% or more down. The loan limits page gives both limits for every county.
Gifts, the other source
FHA and conventional loans accept gifts from family toward the down payment, documented by a gift letter and a paper trail of the transfer. A gift and state assistance can usually be combined. What lenders refuse is an undocumented deposit shortly before the application, so move the money early and keep the bank statements.
Waiting to save more, in numbers
Each extra year of saving is a year of rent paid and a year in which prices and rates can move either way. On a $300,000 home, going from 3.5% to 20% down means saving $49,500 more. The calculator above shows how the monthly payment changes with the loan type, so you can weigh that payment against the time it would take you to reach 20%. Assistance shortens the wait further, since it pays the minimum for you.
A loan with no down payment
Two federal loans ask for nothing down. VA states it plainly: no down payment as long as the sales price is not higher than the appraised value, for eligible veterans, service members and some surviving spouses, and without monthly mortgage insurance. A loan backed by a USDA guarantee may reach the appraised market value of the home under 7 CFR 3555.103, in areas USDA classes as rural and for households under its moderate income limit. For everyone else, zero down is built rather than given: an FHA loan at 3.5% or a conventional loan at 3% plus state help of 3% to 5% covers the minimum. On a $300,000 home with FHA, help of $10,500 or more leaves only closing costs to bring, and many programs cover part of those too.