Average Down Payment on a House | 2026

If you’re thinking about homeownership, you may have heard that you must save a 20% down payment before you can consider buying a home. The good news is that’s not true: the average down payment on a house falls below 20%. 

In fact, many buyers put down much less than that. NAR’s 2025 Profile of Home Buyers and Sellers found a median down payment of 10% for first-time buyers.

Ready to find out more about your down payment options? Let’s take a closer look at how to purchase a home with less than 20% down.

Check your mortgage eligibility. Start here (Nov 7th, 2026)

Average down payment on a house

The National Association of Realtors’ 2025 Profile of Home Buyers and Sellers (surveying July 2024 to June 2025) found that the median down payment differs a lot by type of buyer. 

Here’s a closer look:

• All buyers put a median of 19% down on their home purchase.
• First-time buyers put a median of 10% down on their home purchase.
• Repeat buyers put a median of 23% down on their home purchase.

As you can see, first-time buyers typically put down far less than repeat buyers.

What is the average down payment on a house?

The median down payment on a house is 19% for all buyers, according to NAR’s 2025 Profile of Home Buyers and Sellers. For first-time buyers, it drops to 10%.

What are the down payment requirements for a mortgage?

Although the median down payment for first-time buyers is 10%, that’s well above the minimum required down payment for many types of mortgages. 

Here are the minimum down payment requirements for the most popular mortgage loans:

• Conventional home loan. You can obtain a conventional mortgage with a down payment as low as 3%. However, in some cases, lenders require a larger down payment to offset a lower credit score or high debt-to-income ratio. 

• FHA loan. The Federal Housing Administration insures FHA loans. Borrowers with a solid credit score can close on an FHA loan with 3.5% down. If your credit score is on the low end, you may have to put 10% down to qualify. 

• VA loan. VA loans are backed by the U.S. Department of Veterans Affairs. If eligible for a VA loan based on your military service, you could buy a home with 0% down. 

• USDA loan. The U.S. Department of Agriculture backs USDA loans with the goal of offering affordable homeownership opportunities for residents of rural areas. You can obtain this loan with 0% down. 

Whether you are a first-time homebuyer or an experienced one, you have plenty of loan options. The exact down payment amounts vary based on the loan type and your unique financial situation. Still, it’s nice to know that you may not have to save up 20% to become a homeowner.

Minimum down payment vs average down payment

First-time buyers put down a median of 10% of the home’s purchase price, according to NAR’s 2025 Profile of Home Buyers and Sellers. 

Luckily, there is a way to speed up your journey to closing. 

In many cases, homebuyers can find a loan that will accept a down payment lower than 10%. For example, you could pursue a conventional loan with a 3% down payment or an FHA loan with a 3.5% down payment. If eligible, you could even seek out a VA or USDA loan to obtain a home with 0% down. 

Saving up for a down payment can force you to put off the dream of homeownership. That delay could leave room for home prices to rise, which might mean you’re stuck saving up even more for your home purchase. 

Instead of waiting to save up for a bigger down payment, you may want to consider moving forward with a mortgage loan with a lower minimum down payment, allowing you to lock in a housing cost now. Just remember that this means you’ll face higher monthly mortgage payments after closing.

Do people still make 20% down payments?

Yes, people still make 20% down payments on home purchases. But it’s not the norm, especially among first-time buyers. 

That makes sense because older home buyers have had more time to stabilize their finances. NAR’s 2025 Profile puts the median age of repeat buyers at 62, compared with 40 for first-time buyers. More time in the workforce means more time to build up a big down payment. 

Some younger home buyers are able to put 20% down on a home purchase. These buyers may have higher incomes or live in a more affordable area. If you don’t have 20% to put down, that’s okay! You can purchase a home without putting 20% down.

How is private mortgage insurance (PMI) related to your down payment?

If you close on a conventional loan with a down payment of less than 20%, your lender will likely require mortgage insurance. Private mortgage insurance, or PMI, is a monthly surcharge added to your mortgage payment. 

If you opt for an FHA loan, you’ll pay a mortgage insurance premium (MIP). FHA MIP comes in two parts: an upfront premium and an annual premium. 

PMI doesn’t protect you. Instead, PMI protects the lender in case you default on the loan. With that, you have to pay extra each month to protect mortgage lenders from a potential default. 

And unfortunately, this monthly cost can add up quickly. The good news is that on a conventional loan, you can ask your servicer to cancel PMI once your balance reaches 80% of the home’s original value. FHA MIP follows different rules. However, reaching a loan-to-value ratio (LTV) of 80% can take time, which means you’ll likely be stuck with PMI for a while. 

No one wants to face a higher mortgage payment. But PMI might be a necessary evil when pursuing homeownership. It’s often not worth waiting until you’ve built up a 20% down payment just to avoid PMI. That’s because homeowners often see their home value grow while making payments, and some servicers let rising value end PMI sooner. Plus, locking in a lower mortgage interest rate could help you save more in the long run.

Down payment tips

If you want to buy a home as soon as possible, sticking to a low down payment can speed things along.

Here are some tips to help you reach homeownership sooner rather than later:

• Look at no-money-down mortgage programs. Take a minute to see if you qualify for zero-down loan programs like the VA or USDA loan. 
• Apply for down payment assistance. Many states and cities offer down payment assistance programs for eligible individuals. First-time buyers are especially likely to qualify. Check out the options to see if you qualify. 
• Use gift money. Although not an option for everyone, you can use a gift from a family member (or, on some loan types, a close friend) to satisfy the down payment requirement on a mortgage. 
• Look for assistance with closing costs. A down payment isn’t the only expense on your horizon. Consider asking the seller to cover some of the closing costs. 

Other ways to build up a down payment include selling something, picking up a side hustle, or taking out a loan from your retirement fund. Here’s a full list of creative ways to save up a down payment.

Average down payment FAQ

What’s the average down payment on a house?

According to the National Association of Realtors, the median down payment on a house is 19% for all buyers and 10% for first-time buyers. 

NAR reported a median existing-home price of $417,500 in September 2026. With that, a 19% down payment would be around $79,325, and a 10% down payment would be around $41,750. 

How much do you need for a down payment on a $300,000 house?

The down payment amount you’ll need for a $300,000 house varies based on the loan type you choose. With a VA or USDA loan, you might not need to put down anything depending on your eligibility.

But if you opt for a conventional loan with a 3% down payment, you’d need $9,000. If you choose an FHA loan with 3.5% down, you’ll need a $10,500 down payment. 

What is a good amount to put down on a house?

The right amount to put down on a house varies based on your situation. Unless you qualify for a VA or USDA loan, you’ll likely need to put down at least 3%, and you might decide to put down more. The benefits of making a larger down payment include a lower monthly mortgage payment. Plus, you will be able to avoid PMI on a conventional loan if you can put down 20%. 

Is it worth putting 20 down on a house?

Putting 20% down on a house could be a smart move if you have that amount of money available. That’s because you would avoid PMI on a conventional loan. 

But waiting to save up 20% for a down payment can take time. Instead of delaying your homeownership plans, obtaining a mortgage with a lower down payment often makes the most sense. That’s especially true if a hot real estate market threatens to price you out of the area. Or if you can lock in a lower interest rate when mortgage rates are projected to rise. 

Even if you have the funds to make a large down payment, it’s not good to drain your emergency savings for this purchase. Homeownership often comes with unexpected expenses. It’s better to put less money down than enter homeownership without any money in your savings account. 

Is 7,000 enough for a down payment on a house?

$7,000 can be enough for a down payment. But it depends on the type of loan you qualify for and the loan amount you are seeking. 

For example, $7,000 would cover a 3.5% down payment on a $200,000 home. But you’d need to qualify for either a conventional or FHA loan to make this down payment amount. Plus, you’d have to find a new home with a $200,000 sales price. That may or may not be possible based on your location. 

Run the numbers for your unique situation to determine if $7,000 is enough for a home down payment.

Check your mortgage eligibility. Start here (Nov 7th, 2026)