09/15/2026
One of the big home-buying myths is that you need to save 20% before you can purchase. But many buyers can qualify with significantly less.
Depending on the loan program and your situation, options may be available with as little as 3% down or even 0% down for certain qualified buyers. While putting 20% down can help you avoid private mortgage insurance (PMI), it’s not a requirement for most buyers.
The key isn’t waiting until you have 20%. It’s understanding what you can actually qualify for and what makes financial sense for you.
Before putting your home search on hold because you don’t have a 20% down payment, talk with a qualified lender and explore your options. You might be closer to homeownership than you think!