Buying A House With Less Than 20 Down May 2026

: Many allow as little as 3% down for first-time buyers.

: PMI protects the lender, not you, if you default on the loan. buying a house with less than 20 down

: Available to eligible veterans and service members, these often require 0% down and no monthly mortgage insurance. : Many allow as little as 3% down for first-time buyers

Buying a home with less than 20% down is the modern norm, with many first-time buyers putting down as little as 3% to 6%. While this allows you to enter the market sooner and keep cash on hand for emergencies or repairs, it typically requires paying for mortgage insurance and results in higher monthly payments. Common Low Down Payment Options Buying a home with less than 20% down

: Backed by the Federal Housing Administration, these require only 3.5% down and are more flexible for those with lower credit scores (minimum 580).