The amount of a down payment needed for a mortgage loan depends on the type of loan and your current credit situation. You can put as little as 3.5% down on an FHA loan, conventional loans as low as 5%, and VA loans usually don't require a down payment. The lender will decide what your minimum down payment needs to be based on your credit situation. If you are able to make a sizable down payment, say 20%, you will pay less interest on your purchase, you'll get a lower interest rate, you won't have to pay private mortgage insurance, and you may stand out from a crowded field of interested buyers for the house you want. Here's a tool
that can help you calculate how much you put down can affect your payments and rate.