Costs & fees
Down payment
In short
The down payment is the cash you put toward the purchase price up front. The rest is your loan. How much you need depends on the loan program, not one fixed rule.
The down payment is the portion of the purchase price you pay yourself at closing; the mortgage covers the rest. It sets your starting loan-to-value and, with it, your equity on day one.
There is no single required amount — it depends on the loan program and your profile. Some government-backed programs allow very low or no down payment for eligible buyers, while other loans expect more. A larger down payment lowers the loan balance and can remove the need for mortgage insurance.
Down payment funds can sometimes come from gifts or assistance programs, each with its own documentation rules. In Florida, statewide and county programs exist specifically to help with this hurdle.
Related
Current as of August 2026.