Buying A House With Less Than 20 Down May 2026

: Backed by the Federal Housing Administration, these require only 3.5% down and are more flexible for those with lower credit scores (minimum 580).

Buying a home with less than 20% down is the modern norm, with many first-time buyers putting down as little as 3% to 6%. While this allows you to enter the market sooner and keep cash on hand for emergencies or repairs, it typically requires paying for mortgage insurance and results in higher monthly payments. Common Low Down Payment Options buying a house with less than 20 down

: Aimed at rural and suburban homebuyers with low-to-moderate incomes, these also offer 0% down . The Role of Mortgage Insurance : Backed by the Federal Housing Administration, these

If you put down less than 20% on a conventional loan, you must pay . Common Low Down Payment Options : Aimed at

: PMI protects the lender, not you, if you default on the loan.

: Usually ranges from 0.5% to 1.5% of the loan amount annually, added to your monthly payment.