06/17/2026
🏡💰 FIRST TIME HOMEBUYERS: Do you think you need 20% down to buy a home?
Not necessarily! In fact, the average first-time homebuyer puts down just 8%.
Here are a few things to know:
✅ 20% down means:
• No PMI (Private Mortgage Insurance)
• Lower monthly payments
• More equity from day one
✅ Less than 20% down means:
• You can buy sooner
• Keep more cash in savings
• Start building equity now instead of waiting years
📌 What is PMI?
PMI is insurance that protects the lender, not the buyer, when you put down less than 20%. The good news? For many conventional loans, PMI can be removed once you reach 20% equity.
Every buyer’s situation is different, and there isn’t a one-size-fits-all answer.
📊 Sometimes putting down less and keeping cash in reserve is the smarter financial move.
Thinking about buying a home and wondering what your options look like? Send me a message and let’s run the numbers together.