Need to save up for a down payment? We can help.
Learn how to save up for a house with our downloadable guide, chock full of expert tips and advice to get you home in no time.
Need to save up for a down payment? We can help.
Which down payment is right for you?
| Conventional Loan | FHA Loan | VA Loan | Jumbo Loan | |
|---|---|---|---|---|
| Minimum down payment | 3% (with PMI) to 20% (without PMI) of home price | 3.5% of home price | 0% of home price | At least 10% |
| Minimum credit score | 620-660 | 580 | No minimum | 680-720 |
| Mortgage insurance fees | None if you decide to put down 20% or more. 0.5% to 1% for anything below | 1.75% of loan amount | No PMI, but upfront funding fees of 1.25% to 3.3% of loan amount | None if you decide to put down 20% or more. 0.5% to 1% for anything below. |
| Suitable for | Buyers with higher credit scores and higher down payments | Buyers with lower credit scores. Particularly helpful for first time home buyers or homebuyers who need down payment assistance | Military service personnel or family members | Buyers that require loan amounts that exceed the limits for their county. Needs a higher credit score and a low DTI to qualify |
Explore more options with your home affordability report
Get pre-approved to see exactly how much home you can afford.
Find a top real estate agent that can help get you the best deal on a home.
Read our guide and start saving up for the home of your dreams.
Tips and tricks for first-time homebuyers
Skip the novice mistakes and buy your dream home with confidence. Visit our Buyer Resource Center for the latest home buying advice backed by top real estate agents, rigorous research, and data analysis.