Guide
How much do home buyers really put down?
The typical 2025 buyer put about 10% down. The full distribution, by state.
Updated October 24, 2026
HMDA records the combined loan-to-value ratio (CLTV) of each reported mortgage. The median 2025 home-purchase borrower financed 90% of the home's value — a down payment of about 10%.
- 38.5% of buyers put 20% or more down (CLTV of 80% or less).
- 34.2% financed more than 95%, typically FHA, VA, USDA or low-down-payment conventional loans.
- The middle half of buyers financed between 80% and 96.5%.
Biggest and smallest down payments by state
| State | Typical down payment | Put 20%+ down |
|---|---|---|
| California | 20.0% | 51.7% |
| District of Columbia | 20.0% | 50.4% |
| Massachusetts | 20.0% | 53.2% |
| New Hampshire | 20.0% | 50.6% |
| New Jersey | 20.0% | 53.9% |
| Louisiana | 3.5% | 23.6% |
| Mississippi | 3.5% | 24.6% |
| Alabama | 5.0% | 27.8% |
| Alaska | 5.0% | 26.2% |
| Arkansas | 5.0% | 29.9% |
You don't need 20% down: conventional loans allow 3%–5% with mortgage insurance, FHA 3.5%, and VA and USDA loans can require none. Putting less down raises the payment and the mortgage insurance cost. The payment calculator shows the trade-off.
Data: FFIEC/CFPB HMDA 2025 public loan/application register; FHFA and HUD 2026 loan limits. Home-purchase figures cover owner-occupied single-family (1–4 unit) site-built homes, first-lien closed-end loans. Methodology