Requirements

Minimum Down Payment by Loan Type

Editorial Team · Updated July 2, 2026

The minimum down payment ranges from nothing to 20% depending on the loan. A conventional loan starts at 3%, FHA at 3.5%, and jumbo loans at 10–20% — while eligible VA and USDA borrowers can buy with 0% down. The right minimum depends on which program you qualify for.

Putting down more is not just about approval. Crossing 20% on a conventional loan removes private mortgage insurance and usually earns a better rate, and a larger down payment lowers the loan you finance and every payment on it. The minimum gets you in; more equity makes it cheaper.

Minimum down payment by loan type

FHA needs 3.5% down with a 580 score, or 10% down with a 500–579 score. VA and USDA replace the down payment with a smaller one-time fee.

Minimum down payment by mortgage type
Loan typeMinimum downMortgage insurance
Conventional3%PMI below 20%, cancellable
FHA3.5% or 10%MIP, often for the life of the loan
VA0%None — a one-time funding fee
USDA0%Upfront + annual guarantee fee
Jumbo10–20%Varies by lender

Why 20% down still matters

On a conventional loan, a 20% down payment removes private mortgage insurance from the start and often earns a lower rate, because the lender has more cushion. Below 20% you pay PMI until you reach roughly 20–22% equity. Even if you cannot reach 20%, every extra percentage point down lowers your balance, your payment and your PMI.

The zero-down options

Only two mainstream loans allow 0% down: VA loans for eligible veterans and service members, and USDA loans for eligible buyers in rural and many suburban areas who meet income limits. Both trade the down payment for a smaller one-time fee that is lighter than years of mortgage insurance.

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Put the numbers to work

Down Payment Calculator

Turn a down-payment percentage into dollars and see whether you clear the 20% PMI threshold.

FHA Loan Calculator

Estimate an FHA payment including upfront and annual mortgage insurance premiums (MIP).

Mortgage Calculator with PMI

Include private mortgage insurance in your payment and find out exactly when PMI drops off.
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Related terms
Down paymentLoan-to-value (LTV)PMI (Private Mortgage Insurance)

Frequently asked

What is the minimum down payment to buy a house?

The minimum is 3% on a conventional loan and 3.5% on FHA, while eligible VA and USDA buyers can put nothing down. Jumbo loans typically require 10–20%. Reaching 20% on a conventional loan removes PMI.

Which loans require no down payment?

VA loans (for eligible veterans and service members) and USDA loans (for eligible rural and suburban buyers under income limits) both allow 0% down. In place of a down payment they charge a smaller one-time fee.

How much down payment do I need to avoid PMI?

On a conventional loan, 20%. Below that you pay private mortgage insurance until your equity reaches about 20–22%. FHA loans charge their own insurance that usually cannot be cancelled without refinancing.

Is a bigger down payment worth it?

It lowers your loan, your payment and — at 20% — your PMI, and can improve your rate. But keep an emergency cushion; draining every dollar into the down payment can leave you stretched after closing.

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