06/10/2026
One of the biggest myths we hear is, “I need to save 20% before I can buy a house.” While putting 20% down is an option, it’s not the only option.
Let’s use a $300,000 home as an example. A 20% down payment would be $60,000. For many people, saving that much money can take years.
The good news is that many loan programs allow qualified buyers to put down much less. In some cases, buyers may be able to purchase a home with as little as 3% to 5% down.
Every buyer’s situation is different, and the amount needed can vary based on the loan program, credit, and finances. That’s why it’s important to talk with a lender and Realtor early in the process.
We’ve found that many people are actually closer to homeownership than they think. Sometimes it just takes a conversation to understand what your options are and what steps can help you get there.
Have you ever heard that you need 20% down to buy a home?