How Much Down Payment Do You Need To Buy a House?

One of the first questions we hear from homebuyers is: How much do I actually need for a down payment? The answer isn’t one-size-fits-all. Depending on the loan program and your eligibility, down payments can range from 0% (like with VA and USDA loans) to over 20%. Conventional loans typically start around 3%, while FHA loans require at least 3.5%. If you can put down 20%, you’ll avoid private mortgage insurance (PMI), which otherwise adds 0.5%-1.5% to your annual costs. And don’t forget closing costs, which usually run between 2% and 5% of the purchase price. At the KC Mortgage Duo, our mission is to help you understand these options and navigate them with confidence—because for us, guiding you with transparency and care is what it’s all about.