– But you might be wondering how much you really need to save up and what the average down payment size is for borrowers like yourself. What is the Down Payment? Most lenders require a down payment in order to get a mortgage loan. The down payment is part of the purchase price of a property that is paid in cash and not financed with a mortgage.
Credit Score Limits Dropping For Mortgages – FHA mortgages target higher-risk homebuyers with lower credit scores and lower down payments. Credit scores for FHA loans..