Contact David DirectlyHow much do you need to put down on a down payment for a home? Well, the answer isn't so clear-cut. It really depends on the type of loan that you qualify for.With a Veterans Administration loan, you can buy a home with 0% down. That is a fantastic deal if you're a veteran that qualifies!If you're a first-time home buyer you can purchase a home with just 3% down if you can qualify for a special conventional loan. Keep in mind that a first-time home buyer is considered to be anyone that hasn't owned a home in the last three years.With an FHA loan, you can purchase with a down payment of only 3.5%, as long as the residence is going to be your primary home.There are many different options when it comes to paying a down payment. However, it's important that you remember that you will have to pay private mortgage insurance if you cannot put 20% down.If you have any questions or if you would like to arrange an analysis, please don't hesitate to contact me. I look forward to hearing from you!