Can You Buy a House With 5% Down?

Yes. A 5 percent down conventional loan is one of the most common ways buyers purchase a home without a large down payment, and it opens up more loan options than the 3 percent programs.

How 5% Down Works

You finance 95 percent of the purchase price and pay private mortgage insurance until you build enough equity, usually around 20 percent, at which point the insurance can typically be removed.

Advantages of 5% Down

Compared to 3 percent down, a 5 percent down payment can mean a slightly lower monthly payment and lower mortgage insurance, while still keeping your upfront cash manageable.

Is It Right for You?

The best down payment depends on your savings, monthly budget, and goals. There's no one-size-fits-all answer.

Explore Your Options

As your REALTOR, I can connect you with trusted lenders to compare 3 percent, 5 percent, and other options. Reach out and we'll find the right fit.