Even with 721, your credit history might not be long enough. Call them and ask.

 

No matter what your credit score is they will still look at how long you have had your credit. But good luck there any ways. Im 23 almost 24 and i have a 726 and they said i still didnt have a long enough credit record. They then tried to give me a higher APR. I i then went and checked around at the credit unions in my town and found the lowest one i could get. I think i got them to lower it down to like 4.8. As for your down payment, do whatever you can. I put down 15k right off the bat. But that is because i work out of the country and when im not home collecting any income i like my payments as low as possible. But thats all up to you. It also depends on how much the bank is willing to give you. Good luck and have fun. It will be a great learning tool

 

Also know that if you have your parents co-sign for you it takes a hit on their credit score. Just something to keep in mind.