06/27/2025
Real Estate Myth Busted: You Don't Need 20% Down to Buy a Home!
One of the most common misconceptions in real estate is that you must have a 20% down payment to buy a home. Not true! A buyer does not have to have 20% down payment. Minimum down payments are 3% on conventional loans and 3.5% on FHA.
Where much of the myth stems from is that nearly all mortgage loans with less than 20% down require private mortgage insurance.
Don't let the 20% down myth deter you from starting your home search. Your lender will be able to guide you through deciding on a down payment amount, as well as starting the pre-approval process. Your realtor can then work with you based on your pre-approval amount to find your dream home!
We are here to help with any real estate needs you may have. Let us know how we can help. https://coloradofrontporchrealty.com