. How Much Do I Need for a Down Payment in Plano, TX?

The myth that you need 20% down is just that—a myth. In Plano, the average buyer puts between 3%–10% down depending on loan type and credit.

FHA loans allow as little as 3.5%, while conventional loans can start around 5%. First-time buyers may also qualify for down payment assistance programs through Texas State Affordable Housing Corporation (TSAHC).

A 20% down payment does help avoid private mortgage insurance (PMI), but it’s not a must. Often, keeping extra cash for closing costs and repairs is smarter.

In Plano’s competitive market—where median prices hover around $525,000—flexibility matters more than perfection. Lenders love strong financial profiles even with lower down payments. Bottom line: don’t wait for “perfect.” A local lender can help you run real numbers for your budget today.