how much money down on a conventional home loan

Best answer


3% to 20%

People also ask


  • How much cash do you need for a conventional loan down payment?

  • How Much Cash Do You Need For a Conventional Loan Down Payment? A lot of first-time homebuyers think they need a 20% down payment to qualify for a conventional loan. That鈥檚 simply not true. Conventional loan down payment requirements are as low as 3%. That鈥檚 only $9,000 down for a $300,000 home, or $6,000 down for a $200,000 home.

  • How much down payment do I need to buy a house?

  • A lot of first-time homebuyers think they need a 20% down payment to qualify for a conventional loan. That鈥檚 simply not true. Conventional loan down payment requirements are as low as 3%. That鈥檚 only $9,000 down for a $300,000 home, or $6,000 down for a $200,000 home.

  • Can I get into a home using a conventional loan?

  • Even an FHA loan requires a larger down payment of 3.5%. The low conventional loan down payment requirements have made mortgage borrowing more accessible to qualified borrowers. Here鈥檚 how you can get into a home using a conventional loan, perhaps more easily than you thought. Check your conventional loan eligibility. Start here.

  • Why are low-down payment conventional loans so hard to get?

  • Combined with the smaller down payment requirements, the mortgage lender鈥檚 exposure is simply higher on these low-down payment conventional loans. So they don鈥檛 issue them to just anyone. That means the underwriting guidelines are tougher.

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