The amount of deposit you need for a house depends on the type of mortgage you choose, your lender, and your personal financial situation. Here are some general guidelines:

• Conventional mortgage borrowers buying a home they plan to use as their primary residence can often get a mortgage with as little as 3% down.
• If youre getting a mortgage to purchase a second home or investment property, youll likely be asked to make a larger down payment than if you were buying a primary residence. The minimum down payment youll need to make for one of these purchases is largely dependent on your lender, the type of property youre buying, and the number of units it has.
• Conventional loan requirements for investment properties are the strictest of any loan type. In most cases, you’ll need a down payment of 20% – 25% to qualify.
• The larger the deposit, the less money you’ll need to borrow to purchase the property, which also means that you’ll save a large amount in interest payments over the course of your mortgage.
• While there are no limits to the size of the deposit you can place at the start of your loan process, it’s highly unusual for a first-home buyer to have more than 20% of the total cost of the property saved at the commencement of the mortgage.
• Making a lower down payment allows you to buy a house sooner than if you waited to have the full 20% down.

In summary, the minimum down payment required for a house varies depending on the type of mortgage youre planning to apply for, but it can range from 0% to more than 20% .