Where Homebuyers Put Less Than 5% Down

Mortgage Markets

Loan Pricing

U.S. Map showing where homebuyers are putting less than 5% down.

Chart Download and Page Share

Share or Download

Data Points

GU 76%, MS 61%, LA 57%, PR 57%, AK 54%, AL 54%, OK 53%, WV 53%, TX 52%, AR 50%, NM 49%, GA 47%, KY 46%, WY 44%, MD 43%, MO 43%, NV 43%, SC 43%, SD 43%, FL 42%, IN 42%, TN 42%, AZ 41%, KS 41%, NC 41%, HI 40%, NE 40%, VA 40%, OH 39%, ND 38%, ID 36%, IA 36%, DE 35%, RI 35%, CA 34%, CO 34%, UT 34%, ME 33%, MI 33%, PA 32%, WA 32%, MT 31%, IL 30%, OR 30%, MN 29%, WI 28%, CT 26%, NH 23%, VT 23%, NY 22%, NJ 21%, MA 20%, DC 19%, VI 17%

Date Published:

June 12, 2026

Date Updated:

June 12, 2026

Chart type:

Map

Suggested Citation:

Polygon Research, "Where Homebuyers Put Less Than 5% Down," MBS Pivot (Polygon Pulse), accessed June 2026, polygonresearch.com/data/where-homebuyers-put-less-than-5-percent-down-by-state.

Key Insight and Commentary

In 2026, the states with the most homebuyers putting less than 5% down are Mississippi (61% of purchase loans above 95% LTV), Louisiana (57%), Alaska (54%), Alabama (54%), Oklahoma (53%), West Virginia (53%), Texas (52%), and Arkansas (50%) — eight states where at least half of all purchase loans financed more than 95% of the home's price. Among territories, Guam reached 76% and Puerto Rico 57%. The lowest shares are in the Northeast: Washington, DC (19%), Massachusetts (20%), New Jersey (21%), and New York (22%).

These figures come from loan-level data on every 2026 purchase loan in Fannie Mae, Freddie Mac, and Ginnie Mae mortgage-backed securities, year to date through May. Buying a home with less than 5% down — a LTV above 95% — is mainstream American homebuying, not the exception. The geography closely tracks where government lending — FHA, VA, and USDA loans — leads the purchase market; these programs are designed for down payments as low as 3.5% (FHA) or zero (VA, USDA).

LTV is one dimension of the credit box: credit score, DTI, pricing, channel, and program mix vary by state and lender behind these figures, all available at loan level in MBS Pivot. For the conventional-only view of this market — see Conventional Loans With Less Than 5% Down by State. Updated monthly as new agency disclosure data is released.

From Analysis to Action

This analysis provides a clear blueprint for how to uncover meaningful market dynamics. Its true power is unleashed when you apply this same methodology to your own local markets. Because all real estate is local, this granular approach is essential for crafting precise strategies that effectively address the unique conditions of each community.

Ready to Continue? Get Your Exact Market Answers.

Go beyond generic insights. Polygon's interactive tools and limitless filtering empower you to tailor market data to your specific strategy.
Start your 7-day free trial.

Unlock My Custom Insights Now - Free Trial