How Much Is Enough for a Down Payment?

Most would-be homebuyers start their journey by gathering a down payment. This money is crucial to snagging a mortgage and getting that much closer to homeownership.

But when you’re shelling out for hefty rent each month, paying for utilities, and chipping away at a stack of bills on top of that, it can seem impossible to save up for a down payment on a house. And after months of giving up daily lattes and takeout, and whittling down streaming services, maybe you’ve managed to squirrel away a few thousand at best. But is that enough for a starter home?

The answer is yes—and no. There are assistance options, including government programs that help with down payments. And some programs may allow you to skip down payments altogether—but they’re not for everyone. Here’s what the pros have to say about small down payments or even no down payments. 



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