How Much Down Payment Do You Need to Buy a House? (2026)

The old 20% down rule still matters for avoiding PMI, but it's not the minimum most buyers need in 2026. Conventional loans start at 3% down for qualified first-time buyers, FHA at 3.5%, and VA loans at 0% for eligible veterans.

Common down payment options

• Conventional: 3–5% for many first-time buyers; 20% avoids PMI.
• FHA: 3.5% with a 580+ credit score; 10% if your score is 500–579.
• VA: $0 down for eligible service members and veterans.
• USDA: $0 down in eligible rural areas (income limits apply).

What changes when you put less down

A smaller down payment means a larger loan, a higher monthly payment, and usually mortgage insurance. On a $350,000 home, 5% down ($17,500) versus 20% down ($70,000) can add $200+ to your monthly payment once PMI is included — even at the same interest rate.

Don't forget closing costs

Down payment and closing costs are separate. Closing costs typically run 2–5% of the loan amount. A 5% down buyer on a $350,000 home might need $17,500 down plus $7,000–$14,000 in closing costs — plan for both.

Compare scenarios

Slide the down payment in our mortgage calculator to see PMI kick in below 20%. Compare FHA and VA paths in the FHA and VA calculators if you're weighing low-down options.