Published October 7, 2025

The Minimum Down Payment Required

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Written by Sheri Kipp

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Here’s why the right answer is so important for you to know.

A lot people overestimate how much they really need to save for a down payment.

The most common answers? 10 or 20%.

The truth: you may be able to put down as little as 3%.

According to FirstHomeIQ, only 8 out of 100 people actually get this right.

Don’t let misinformation hold you back.

What did you guess? 

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downpayment, FirstTimeBuyers
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John Hurlbut

Realtor, CRS, GRI, ABR | Altitude Homes Team | Keller Williams Realty

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