Down payments for mortgages can range from 0% to over 20%, depending on the type of mortgage and the borrower's circumstances. The riskier the mortgage, the higher the down payment. In the 20 biggest U.S. cities, a 20% down payment can range from $39,127 to $263,392. The down payment lowers the risk to the lender and can affect the mortgage rate. Different types of loans have different minimum down payments, from 3% for a conforming mortgage to 0% for VA and USDA mortgages.
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