Nope! In fact, many first-time buyers put as little as 3-5% down. Talk to a local lender to learn what loan options might be best for you. Depending on your income, credit and more, there are countless loan options that range from 0%-20% down. If you put less than 20% down, you will pay a monthly “private mortgage insurance” or PMI that’s included in your monthly mortgage payment until you reach that 20% in equity.