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Loan type. Minimum down payment. Conventional loan (Conforming) 3%. Adjustable-rate loan (Conforming) 5%. ... As of 2023, the typical mortgage down payment for a first-time homebuyer was 8 percent ...
Jumbo loan: 10 percent down payment. Jumbo loans are a specific type of conventional mortgage for high-priced properties. In 2025, homes that cost more than $806,500 in most markets will need a ...
The typical down payment for a first-time homebuyer was a median of 9 percent in 2024, according to the National Association of Realtors (NAR). For a $400,000 home, a 9 percent down payment totals ...
In the United States, down payments for home purchases typically vary between 3.5% and 20% of the purchase price. [1] The Federal Housing Administration has advocated lower down payments since its inception in 1934, and, currently, borrowers that qualify for an FHA loan pay only 3.5% for a down payment.
Piggyback loan: A piggyback loan is a second mortgage loan you can use to increase your down payment amount. For example, you may put 10% down in cash and borrow 10% using a piggyback loan to meet ...
For conventional loans, the minimum mortgage down payment is 3 percent. FHA loans require a down payment of 3.5 percent with a credit score of 580 or higher. For scores between 500 and 579, the ...
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