Your down payment amount, along with other factors such as whether you have a fixed or adjustable rate, is going to depend on the type of loan you choose. An experienced loan officer can help you with the mortgage process, including determining the loan type that is right for you. Here’s quick primer: Conventional loans are the most common type of mortgage loan. There are also other options that are backed by the federal government such as FHA, USDA and VA loans which often come with lower down payment and/or credit score requirements.