Lenders like you to put 20% down.   That way if you lose your job and they have to foreclose they can sell your house for less than it is worth to get rid of it quickly and still make a profit.    If you don’t put the money down they will probably require you to pay for Private Mortgage Insurance.    The insurance is to protect the lender, not you.   If they have to foreclose they get the insurance and your house.    If you pay less down remember that your interest rate and fees will probably be higher than someone paying the full 20%.

A creative mortgage broker or mortgage bank will be able to get you into a house with little down and avoiding the PMI (Mortgage Insurance).  Today they do a lot of 80% - 20% loans.   You borrow the first 80% then get the equivalent of a home equity loan for the other 20%.   Remember the more you can put down and the better your credit the better interest rates you are likely to get.  More likely, would be 80% - 10% - 10% Loans - For this you would need 10% down.

Veterans get a special deal (well deserved) where the government helps insure the house so that they can purchase the property with no money down.  This is great, but make sure you can afford the payments.     There are also some other ways to get a loan without much money down, FHA especially for first time home buyers, see your agent or lender for more help. 

Buyer Information

Why You Need a Buyers Agent

How Long Will Home Items Last

Buying A House

Buy First or Sell First

Finance Information

Amortization

Credit Ratings

Down Payment

Where to Go For A Loan

Additional Costs to Consider

Questions to Ask Lender

What Can You Afford

Financing a Home

Selling A Home

Selling a House

Seller Mistakes to Avoid

Preparing Your House to Sell

What Is Your House Worth

Buy First or Sell First