Homeownership can be challenging for a first-time homebuyer. Understanding the down payment requirements is part of the process.   Knowing how much money you should put down as a first-time homebuyer helps simplify the process. The following information can help.   What Is a Down Payment on a Home? A down payment is the money you pay up front to purchase a home. This amount is typically calculated as a percentage of the home’s total purchase price, with the remaining cost fin

If you’re a first-time homebuyer or you haven’t owned a home in a while, you might qualify for a first-time homebuyer loan or assistance. Many programs operate through state or federal housing finance agencies, nonprofit organizations, or employers.   As a first-time homebuyer living in a certain area and working in a certain profession, you could be eligible for a low-interest loan or grant to support your down payment and closing costs if you meet the financial requirements