text: how much money do you need to have as a down payment on a house? lets say the house costs between 100k and 150k in ohio. if its your first house and fha loan requires 0% down, many loans require only 5% down the most important factor is your debt ratio and that is 40% i am closing on monday and just went through all of this  i went through this in seattle two years ago so i know what i am talking about.  go on line and get with a company can englending.com they will get you the best rate and bank with your current credit and finances, a tip is to by an inexpensive fax machine because you will be doing a lot of it over the next couple of month but your fax will cost you under 40 bucks.