The Truth About the 20% Down Payment Myth
3 min read
Many buyers wait years in rentals because they believe 20% down is required. Some loans ask for a small down payment, and there may be help programs that lower it more.
Do you really need to save tens of thousands before buying?
A lot of people wait to buy because they think they need a huge pile of cash. That is often not true. The 20% down rule is a myth for many buyers.
Some loans ask for a small down payment. There are loan types built for buyers who do not have 20% saved. And there may be help programs that lower your cash needed even more.
You may not need 20% down to buy a home. The best way to know is to look at what you have saved and see what is possible. We run the real numbers with you, no pressure.
First-time buyers may have more options than they think, including help with a down payment and closing costs. We walk you through every step in plain English.
The Bottom Line
You may not need 20% down to buy a home. Some loans ask for a small down payment, and there may be help programs that lower it more. Let us look at what you have saved.
Have a question about this guide?
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