How much money do you actually need for a down payment on your first home? It may be less than the 20% you commonly hear about. In this video, Katherine Brough looks at national data from the National Association of REALTORS® and the Federal Reserve to compare what first-time home buyers are actually putting down, national home prices, and how those amounts compare with average savings by age.
In 2024, the typical first-time home buyer put down about 9%, increasing to 10% in 2025 — but that doesn't mean every buyer needs the same amount. A down payment can vary depending on the home price, loan program, credit, income, and individual financial situation; some qualified buyers may have conventional loan options requiring as little as 3% down.
This video is for general educational purposes and is not financial or lending advice — loan programs, qualification requirements, rates, and down-payment requirements vary by borrower and lender. If you're thinking about buying in Orange County and want to figure out what your own numbers might look like, reach out — Katherine is happy to help.