There isn't one number. Depending on the program, down payment requirements run from roughly 3% to 25% or more.

Four things determine where you land. Whether the home is a primary residence, second home, or investment property. How your income is documented. Your credit profile. And whether the loan amount exceeds conforming limits. Primary residences sit at the low end and investment properties at the high end. Documenting income outside of tax returns generally raises the down payment required.

Here's what most buyers miss. Your down payment isn't the full amount of cash you need at closing. Closing costs are separate. So is the escrow deposit that prefunds property taxes and insurance. Some programs also look at reserves you'll still have after closing. Hitting your down payment target alone leaves you short on closing day.

Down payment also isn't only about the percentage. Cross 20% and PMI doesn't apply. Fall below it and it does. Pricing shifts with the ratio as well. Whether it's better to put more down or keep that cash available depends on your situation.

Gift funds from family are allowed. What matters is that the money can be traced through documentation, which makes the sequence of the transfer important before anything moves. In high-cost markets like Bergen County, New Jersey or Fairfax and Loudoun County, Virginia, where homes commonly run $800K to $1.5M, the same percentage translates to anywhere from $80,000 to over $300,000. We map that full picture out before you commit.