I just read an article in REALTOR®Mag, the official magazine of the Association of Realtors®. According to that article, consumers think they need to put down 11 - 15% in order to qualify for a mortgage. In reality, there are many programs available that require only 5%, and some as low as 3%. Of course, that depends on the particular circumstances of the buyer, and loans less than 20% still require mortgage insurance. To read the entire article click on the following link. Down Payments