Understanding Down Payment Options in the DMV: Buyers Need to Know

One of the biggest myths in real estate? That you need 20% down to buy. In DC, Maryland, and Virginia, many buyers purchase homes with far less — and you can too.

Typical Down Payment Options

• Conventional Loans: As low as 3% down with strong credit.
• FHA Loans: 3.5% down; more flexible on credit.
• VA Loans: 0% down for eligible veterans.
• USDA Loans: 0% down for qualifying rural areas (yes, some Maryland areas qualify).

Down Payment Assistance Programs Local governments offer grants and second loans for down payments:

• DC Open Doors (DC)
• SmartBuy 3.0 (Maryland)
• Virginia Housing DPA grants

You might qualify even with a higher income than you think.

Final Tip: The right loan and assistance combo could cut your upfront costs dramatically. Always ask your lender about ALL programs — not just the obvious ones.