Homebuyers’ Down Payments Are Shrinking for the First Time in Almost Two Years as Housing Market Cools

• The typical U.S. homebuyer puts 15% down, essentially unchanged from 15.1% last year. 
• FHA and VA loans are becoming more common as the housing market tilts toward buyers. Just over 15% of mortgaged homebuyers use an FHA loan, and just over 7% use a VA loan, up from last year. 
• 31% of buyers are paying all cash, little changed from a year ago and down from pandemic-era peaks. 

The typical U.S. homebuyer’s down payment is $62,468, down by roughly 1% year over year, the first annual decline in nearly two years.

The data in this report is from a Redfin analysis of county records across 40 of the most populous U.S. metropolitan areas. April 2025 is the most recent month for which data is available. Down-payment data, along with data below on loan types, is limited to home…