First-Time Home Buyer Down Payments

How much money do you have to put down as a first-time home buyer?

side view of brick home

Regular loans usually require a 20% down payment on a home. First-time homebuyer programs like the FHA loan reduce this to as low as 3.5%.

The amount can vary according to the program on offer and to what extent you qualify for the grant.

Other key factors include:

  • Your credit score. A good credit score will lower your down payment, while a bad credit score will increase the down payment required

  • Loan amount. The down payment will increase along with the loan amount being requested

  • Loan term. The duration of the loan also impacts the down payment.

There are grants that can eliminate the cost of the down payment altogether. This means you won’t have to pay a down payment. (Such programs are available through federal, state, and local housing agencies.) VA loans also come with no down payment requirement.


The team at can give you options and advise you appropriately about how to finance your home. All you have to do is fill out the form below.