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, start with the Orange County affordability calculator, which turns your income and down payment into a maximum price and a map of the cities it reaches, then reach out — Katherine is happy to help.