So what's the deal with down payments? Some programs allow you to put down as little as 3%, but if you put down 20% or more, you'll likely pay lower fees and avoid the additional cost of mortgage insurance. Keep in mind even 5% down on a $200,000 house is $10,000 and your expenses don't stop there. You'll want to set aside something aside for various moving expenses and things like new furniture, paint, or decor--all those little touches that will make your new house a home. Setting aside tax refunds, work bonuses or setting up an automatic saving plan are great ways to help you save for that down payment and your new home!