The amount of money required for a down payment will depend on the type of loan among other factors. Here are some guidelines:
Most buyers need minimum payment between 3–5% down for a conventional loan. But a down payment of less than 20% requires the buyer to pay an additional monthly amount for private mortgage insurance (PMI) which can be cancelled later once 20% equity is reached.
FHA loans require as little as 3.5% down but MIP, a monthly mortgage insurance premium, will apply for the life of the loan or until refinanced into a conventional loan.
VA or USDA loans may allow 0% down and do not require any monthly mortgage insurance.