How much down payment for a house

Saving for a house is no walk in the park—unless that park is a mountain. In fact, nearly 3 of every 10 first-time home buyers say the most difficult step in the home-buying process is saving for a down payment.¹ But when you set a clear goal, you can see a light at the end of the tunnel.

So let’s figure out how much of a down payment you need so you know what to shoot for.

What’s a good down payment amount? Well, everyone has a different idea on this. But if you want your home to be a blessing, not a curse, you need to get this right.

We’ll walk you through the smartest way to decide how much of a down payment you need.

Minimum down payment for house first-time buyer

But first, let’s be clear on what exactly a home down payment is.

What Is a Down Payment?

A down payment is a portion of the total home price you pay out of pocket before financing the rest with a mortgage.

How Much Should I Pay for a Down Payment?

Aim for a down payment that’s 20% or more of the total home price—that’s $40,000 for a $200,000 house. This minimum is partially based on guidelines set by go

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