The down payment on your house is the amount you pay the lender upfront in order to secure the loan. The amount differs based on what you can afford, and the loan requirements that vary according to the lender.

FHA Mortgage Loan Rates

September 21, 2019
FHA Rates for September 21, 2019
Compare 30 Year Fixed Mortgages
Compare 30 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
Get started one
Get started two
Get started three
Get started four
FHA.com is a privately owned website, is not a government agency, and does not make loans.

Choose a Loan Type

then
get
your

Your Credit Score

Do you know what's on
your credit report?
Get Credit Score Button
Get Credit Score Button
FHA.com is a privately owned website, is not a government agency, and does not make loans.

Down Payment

Related Terms: Down Payment Grant, Minimum Down Payment, Low Down Payment
The down payment is a percentage of the purchase price and the initial “upfront” payment made when buying property. The down payment is essentially seen as your investment in the mortgage, since you stand to lose it if you default on the monthly payments that come after. 
Down Payment
The down payment you put down for a house can influence different parts of the mortgage:
  • By knowing the amount you can afford to put down, you can calculate whether a fixed or adjustable rate mortgage may benefit you most.
  • Your lender may require that you pay a fee for private mortgage insurance if the down payment isn’t high enough.
  • A larger down payment usually means a lower interest rate, and vice versa.
Different lenders require a different percentage as down payment. For conventional loans, lenders expect a down payment of anywhere between 5 and 20 percent. However, many first-time home buyers find it difficult to put down such a large amount. In this case, FHA loans in particular require at least 3.5 percent, no matter what state you reside in.

SEE YOUR CREDIT SCORES   From All 3 Bureaus  

Do you know what's on your credit report?

Learn what your score means.


FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!