If you put less than 20% down I think, you will have to pay PMI (Private Mortgage Insurance) every month until your loan down to 80%. PMI is just insurance money that insures the bank in case you go foreclosing. Basically it is waste money, so save up and put down at least 20%, or do 2 mortgage loan. I bought my house $180k, put down 15%, 80% on 1st loan, 5% on 2nd loan, and no fcking PMI. I think it is stupid to pay PMI, instead using that money paying toward loan. There are many type of loans like fix rate, baloon, ARM, interest first....Do some research see which one is best for you.