Can You Get a Mortgage Without a 20 Percent Down?
Learn how to get a mortgage with less than a 20% down payment. Explore FHA, VA, and conventional loan options in 2025.
Conventional Loans with Less Than 20% Down
Many lenders offer conventional loans with down payments as low as 3% to 5%, especially for first-time homebuyers. However, you may need to pay private mortgage insurance (PMI).
FHA Loans: A Popular Option for Low Down Payments
FHA loans require a minimum down payment of just 3.5%, making them an excellent option for buyers who don’t have the savings for a 20% down payment.
VA Loans: Zero Down Payment for Veterans
VA loans allow eligible veterans to buy a home with no down payment and no PMI, making homeownership more affordable for service members.
USDA Loans: Zero Down for Rural and Suburban Areas
For buyers in eligible areas, USDA loans offer zero-down financing with lower mortgage insurance costs.
Down Payment Assistance Programs
Many states and employers offer down payment assistance programs to help buyers secure funding for a home purchase.
Final Thoughts
Even without a 20% down payment, there are many mortgage options available. Research your options and consult a lender to find the best solution for you.
