Lenders offer several programs designed for buyers who cannot or choose not to meet the 20% threshold:

: Available to eligible veterans and service members, these often require 0% down and no monthly mortgage insurance.

: Usually ranges from 0.5% to 1.5% of the loan amount annually, added to your monthly payment.

: Backed by the Federal Housing Administration, these require only 3.5% down and are more flexible for those with lower credit scores (minimum 580).