: Beyond the down payment, you'll need funds for closing costs (typically 2–5% of the home price) and an emergency fund covering 3–6 months of expenses. 2. Essential Documentation
: While 20% is the standard to avoid Private Mortgage Insurance (PMI) , many programs allow much less: Conventional Loans : As low as 3% for first-time buyers. FHA Loans : 3.5% with a 580+ credit score. VA/USDA Loans : Often 0% down for eligible borrowers.
How to buy a house: Your step-by-step guide to buying in 2026