What Is the Required Down Payment Amount

By Deanna Vela, Top Agent in the High Desert

Many people believe they need a full 20 percent down payment to buy a home, but that is simply not true. In Southern California, especially here in the High Desert, down payment options are flexible and depend on your goals, finances, and the type of home you want.

Conventional loans can start with as little as 3 to 5 percent down for qualified buyers, while FHA loans often begin at 3.5 percent and are more forgiving on credit. VA loans for eligible service members and veterans can even offer zero down options. There are also down payment assistance programs that help first time and repeat buyers, based on income or location.

Your down payment affects your monthly payment, interest rate, and whether you will have mortgage insurance. With less than 20 percent down, private mortgage insurance is common but can be removed once you build enough equity.

In competitive areas like Apple Valley, Spring Valley Lake, and Hesperia, a stronger down payment can make your offer stand out. That does not always mean more cash. Sometimes smart terms or faster timelines can make the difference.

I start with a quick strategy call, connect you with a lender that fits your goals, and help you find the right financing plan to make homeownership possible.

Deanna Vela, the number one real estate agent in the High Desert, can help you find the best lender and the perfect home for your needs.