Determining how much to budget for a down payment depends on various factors, including the property’s purchase price, your financial situation, and the type of mortgage you are applying for. While the general rule of thumb is to aim for a down payment of at least 20% of the purchase price, some mortgages require a minimum down payment of 3.5%. Moreover, several programs are available to assist with down payments. I can help you calculate a more specific number based on your unique situation, and I can also pair you with a professional mortgage broker to assist you in obtaining the right mortgage for your needs.