11/18/2021
First things first: The idea that you have to put 20 percent down on a house is a myth.
The average first-time home buyer puts just 6% down, and certain loan programs allow as little as 3% or even zero down.
You shouldn’t think it’s conservative to make a large down payment on a home, or risky to make a small down payment. The right amount depends on your current savings and your home buying goals.
If you can buy a house with less money down and become a homeowner sooner, that’s often the right choice.
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