Down Payment Requirements
You may be able to lock down a conventional mortgage with as little as 3% down. Your personal situation, lender, and the type of loan you choose will dictate your exact down payment requirements. If you’re not a first-time home buyer, for example, a down payment of at least 5% may be required. In the event you opt for a jumbo loan, you may need to put down as much as 20% to 40%.