One of the biggest myths in real estate is that buyers need a 20% down payment.

In reality, many buyers purchase homes with much less.

Common Down Payment Options

Depending on the loan type, buyers may qualify with:

• 0% down
• 3% down
• 3.5% down
• 5% down
• 10% down
• 20% down

Why 20% Isn’t Always Necessary

While a larger down payment can reduce monthly costs, waiting years to save 20% may not always make financial sense.

Many buyers discover they can purchase sooner than expected.

Other Costs to Consider

In addition to a down payment, buyers should budget for:

• Earnest money
• Home inspections
• Appraisal fees
• Closing costs
• Moving expenses

Planning Ahead

Understanding your full budget helps create a smoother home-buying experience.