04/22/2026
One of the biggest questions I get 👇
“How much do I actually need for a down payment?”
Here’s the reality:
✔ 5% down is possible — but only for homes up to $500,000
✔ For homes between $500K–$1M → 5% on first $500K + 10% on the rest
✔ 20%+ down = no mortgage insurance
👉 Example:
$700K home =
• 5% on first $500K ($25K)
• 10% on remaining $200K ($20K)
= $45K total down payment
⸻
💡 Who qualifies for 5%?
• First-time buyers
• Buyers purchasing a primary residence
• Must qualify for mortgage approval (income + credit)
