That depends what your game plan is. Would you like to buy and sell within a month? Buy hold sell? or buy and never sell?

You can do
-conventional bank financing (and your credit score and debt to income ratio will matter)
-a partnership (those things don't matter)
-hard money (asset based lending, no credit necessary but a double digit interest rate.)
-or seller financing.

I have heard of people buying a home with no down, 0% interest, & terrible credit because they found someone willing to sell a property with 100% seller financing and the property seller was just able to make that kind of a financial decision. They aren't everywhere but they're out there!

But if you want to increase your success rate, then offer more appealing terms like a better down payment and interest rate. If you create the note right, I may be able to buy it from the proeperty seller which will increase your chances of find a GREAT deal. -Because some say: "I want cash, I don't want monthly payments" and since I buy well created promissory notes then you can tell them they are able to sell it to me!

And if they get 10% down, a 9% interest rate, a 30 amortization, a 7 year balloon, and you have 650+ credit score then they can expect top dollar for selling their promissory note, other wise the note gets discounted more. Those aren't minimum requirements, just what is getting top dollar in today's secondary market.

If you have any questions or concerns please ask! I'm here to help.
Regards,
Andrew Distad
(760)-296-1573

As Otis said below those are the main ways of financing and downpayment levels, all I would add is that there are HUD homes you can purchase for $100 down and there is also USDA financing that allows for 100% financing. I always like to remind buyers not to forget that the downpayment money is not the only out of pocket costs you will likely see, there are also the closing costs and the Pre-Paid items such as Taxes, Insurance, and Interest.
Your downpayment percentage will also determine whether you will have mortgage Insurance or a second mortgage at a higher rate. If you are putting less than 20% down you will definitely have one of those two scenarios. IF you have any other questions feel free to ask.
Sean@spectrafinancial.com

Hi Jeffrey,
The standard downpayment for a home purchase is 3.5% if you are utilizing FHA financing. You may have additional programs in your state or county that will allow you to obtain 2nd mortgage financing that will eliminate the need for a down payment all together. Many of these programs are state sponsored and may be geared to teacher and other state and county employees. If you are a veteran you could possibly use your VA loan for 100% financing. This is a great time to buy and though things may seem a little bleak to some it's truly a great opportunity for those that are currently in the market. Rates are great and prices are right. Glad to see you're thinking about becoming a homeowner. Congratulations and best of luck to you.

Usually it's anywhere from 3% and up. It depends on how much you can afford and for what kind of financing you would qualify. USDA loans are %100 financing but have certain requirements. One thing is certain however; the more money down the better.