down-payment

Down Payment Guide: How Much You Need and How to Save It

Down Payment Guide: How Much You Need and How to Save It Down payments commonly range from 5% on a first home to 10%, and up to 25% or more on a later purchase. The size of the down payment affects everything — not just the monthly payment, but negotiating power, stress levels, and long-term wealth. The down payment is often the biggest barrier to homeownership. But here's what most guides won't tell you: the "right" down payment isn't always 20%. This guide explains when to put down less, when to wait for more, and how to weigh the trade-offs when buying today. Calculate Your Down Payment Impact See how your down payment affects your monthly payment: Try Our Mortgage Calculator(/finance/mortgage-calculator) What is a Down Payment? A down payment is the upfront cash you pay toward your home purchase. The rest is financed through your mortgage. According to the Consumer...