Getting StartedPart 1 of 1
Down Payment Options for First-Time Buyers
Low and no down payment programs you might qualify for.
Contrary to popular belief, you don't need 20% down to buy a home. Many programs exist specifically to help first-time buyers.
FHA loans require just 3.5% down with a credit score of 580 or higher. Conventional loans through Fannie Mae and Freddie Mac offer 3% down options for first-time buyers.
If you're a veteran or active military, VA loans require zero down payment. USDA loans also offer zero down for properties in eligible rural areas.
Many states and localities also offer down payment assistance programs, grants, and forgivable loans for first-time buyers. Research what's available in your area.