Conventional loans allow as little as 3% down for first-time buyers and 5% for others. See PMI trade-offs with The 2 Mortgage Guys.
Conventional loans allow as little as 3% down for first-time buyers and 5% for others. See PMI trade-offs with The 2 Mortgage Guys.
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First-time buyers can often put as little as 3% down on a conventional loan. Repeat buyers usually need 5% or more — and 20% down lets you skip PMI entirely. Here is how the math works.
Your down payment sets your loan-to-value (LTV), PMI cost, and how competitive your offer looks to sellers.
Down payment funds must be sourced and seasoned. Bank statements, gift letters, and retirement withdrawals each have documentation rules. We map your cash sources before you write an offer.
Second homes and investment properties need larger down payments — often 10% and 15–25% respectively — so occupancy matters as much as the percentage.
Putting less down is not automatically worse — it depends on cash flow, reserves, and how long you will keep the loan.
Related guides to help you compare options and move toward pre-approval.
Run the numbers before you apply — then get a real pre-approval from Ryan or Steve.
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We will price 3%, 5%, 10%, and 20% down scenarios with real PMI and rate quotes.
Steve DeLon and Ryan Minick - Branch Managers and Senior Loan Officers at .
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Ryan Minick NMLS# 203249
Steve DeLon NMLS# 202876
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1221 Appletree Lane, Kokomo, IN 46902
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