What Is the Minimum Down Payment in Texas?
The short answer
The minimum down payment in Texas depends on the loan program, not the state. Some programs allow a few percent down, and eligible VA and USDA borrowers may be able to buy with no down payment.
How programs generally compare
- Conventional: Low down payment options exist for qualified buyers.
- FHA: Built for buyers who have less saved.
- VA: May offer no down payment for eligible veterans and service members.
- USDA: May offer no down payment in eligible areas for eligible buyers.
Lenders can have their own requirements, and a smaller down payment can change your monthly costs.
Do not forget the other cash
- Closing costs
- Earnest money and inspection costs
- A little cash left over after closing
Budgeting help: How Much Do You Need to Buy a Home in Plano, TX?
Frequently asked questions
Do I need 20% down?
No. Twenty percent can avoid mortgage insurance on some loans, but it is not required to buy.
Can gift funds help?
Many programs allow documented gift funds. Rules vary, so ask before you move money around.
Call us at (469) 414-5554 or visit mohavemortgages.net/home-texas.
By Kelly Welton, Mortgage Broker (NMLS #314183), Mohave Mortgage Texas Branch. Mohave Mortgage NMLS #1830581 · Texas Branch NMLS #2690682 · Equal Housing Opportunity. General information only, not a commitment to lend or financial advice. Programs, rates and guidelines vary and change.
