How Much Should You Put Down on a House?

Updated: Sep 10


Photo by Brandy Kennedy on Unsplash

Looking to buy a home? An important first step is figuring out how much to put toward a down payment. Your down payment is paid upfront and will impact your loan amount, interest rate, monthly payment amount, and whether you’ll need to pay mortgage insurance on your loan.


Traditionally, 20% is the magic number for a down payment. Putting down 20% of a home’s purchase price not only pleases lenders, but it can minimize your loan’s interest and fees, and allow you to start with more equity in your home. It could also help you get approved for a home loan if you have less-than-perfect credit.