What are the Different Down Payment Options for Buying a Home?

No matter your financial situation, homeownership is within reach. There are several different down payment options for buying a home, including:

• Standard down payment. A standard down payment on a home is usually 20% of the home’s purchase price.
• Low down payment. A low down payment typically ranges from 3% to 10% of the home’s purchase price.
• Zero down payment. Certain loan programs and lenders allow for no money down. The types of mortgages that allow for zero down payment include VA loans for veterans and USDA loans for rural homebuyers.