No. You can get a conventional (non-government) mortgage with as little as three percent down from Fannie Mae. Other portfolio lenders, which don't sell their mortgages, can make their own rules and may offer up to 100 percent financing (probably at higher interest rates). You can also find loans from Fannie mae and Freddie Mac with five percent down, and "piggy-back" loans with a five-to-15 percent down payment, an 80 percent first mortgage, a second mortgage to make a total of 100 percent. Finally, for those who meet income-eligibility guidelines, there are conventional loans that can be combined with down payment assistance grants or Community Second mortgages to cover 100 percent of the purchase price and even closing costs.