Massachusetts borrowers purchase homes with down payments smaller than 20% every day. While many people believe that this is the minimum you need to put down on a home, there are multiple lending products with lower requirements. The FHA loan program has a down payment requirement of only 3.5%, and there is no down payment requirement if you qualify for a VA mortgage. Even with a conventional loan, it is possible to buy a home in Massachusetts with a down payment of just 3%.