How Much Down Payment Do You Actually Need in Texas?

"One of the biggest myths in homebuying is that you need a 20% down payment to get into a home. While 20% is great for avoiding PMI, it's not a dealbreaker anymore."

FHA Loans: 3.5% Down

The Federal Housing Administration (FHA) offers loans for as little as 3.5% down for borrowers with credit scores as low as 580. This is one of the most popular ways for first-time buyers to get into the Houston market.

VA Loans: 0% Down

For our veterans and active military members in Houston (home to many proud service members!), VA loans offer an incredible 0% down payment option with no private mortgage insurance (PMI) required.

Conventional 97: 3% Down

Fannie Mae and Freddie Mac both have programs for first-time buyers requiring only 3% down. These often have lower mortgage insurance costs than FHA loans for those with higher credit scores.