No, but if you are going with a conventional loan, 20% will waive the PMI which increases your monthly payment. There are banks out there which does not have PMI with less than 20%, but the interest rate be a slight higher ie. trustco bank. If you are a veteran, that's the best buying power without 20% down anywhere. Costco has a great search agent and discount for its member and it does a quick search for all the financial institute with different rate and down payment.