The subject of down payment is one that every new homebuyer must address at some point. For first-time buyers, the source of these funds is varied. Many cut back on excess spending to save more money, while others receive gifts of financial assistance from family and still others borrow from a retirement account. Certain loan programs may have different requirements regarding the source of your down payment and all have requirements regarding the amount.down-payment-post

So how much do you have to put down? While you typically must put 20% down on most conventional loans to avoid mortgage insurance, there are other options that require little or even no money down!

Of course, when you make a larger down payment, you’ll pay less interest over time and have a greater amount of equity in your home from the start. But by waiting year or even months to save, you might miss out on a low interest rate environment or miss out on that perfect house that just hit the market.

Castle & Cooke Mortgage has solutions to fit the needs of more homebuyers (additional requirements may apply):

  • Conventional loans with as little as 3% down
  • FHA loans with as little as 3.5% down
  • VA loans with no down payment required
  • USDA loans with no down payment required
  • Down payment assistance (DPA) programs to cover down payment and/or closing costs

Contact a loan officer near you for more information.


Castle & Cooke Mortgage, LLC® (NMLS #1251) is a leading independent mortgage lender headquartered in Salt Lake City, Utah, with locations across the United States.

Restrictions may apply. Not all who apply will qualify. Program qualifications & offerings are subject to change at any time. Equal Housing Opportunity. Click here to view state-specific disclaimers.