In order to determine how much of a down payment you’ll need to purchase a home, first you have to understand the different types of mortgage loans. A conventional loan requires at least a 20 percent down payment. FHA loans require just 3.5 percent down, but that’s because they have higher rates and fees than other mortgages do. VA loans are also low-down-payment options, requiring just 0% down for qualified veterans or active duty military personnel. For more updated information, call our professionals now at 312-283-0794.