When buying a home, how much do I need to put down?
There is no specific formula regarding how much you need to put down for a home. It depends on the type of property you are purchasing, whether you’ll occupy the property or use it as an investment, the health of your credit – the list goes on.
The minimum requirement when buying a single unit (condo or single family home) and plan to occupy the home is 3 percent. This is a new program offered by Fannie Mae.
Learn more about down payment requirements for FHA, Conventional and Jumbo.
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This article is intended for educational purposes only and should not be interpreted as a recommendation. The information in this article is not an indication of program availability. Always consult with a mortgage professional before making a decision on a home loan.