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The amount of money you spend upfront to purchase a home. Most home loans require a down payment of at least 3%. A 20% down payment is ideal to lower your monthly payment, avoid private mortgage insurance and increase your affordability. For a $250,000 home, a down payment of 3% is $7,500 and a down payment of 20% is $50,000.

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Equal Housing Opportunity. Zillow Inc. 415 Congress St #202 Portland, ME 04101 (207) 220-3782 The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. For Sale. Maine.

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