Real Estate Myth Buster: “You Need 20% Down to Buy a Home”

Happy Friday, friends! Let’s kick off the weekend by clearing up one of the biggest myths I hear from buyers:

Myth: You need a 20% down payment to buy a home.

Truth: Nope! You absolutely don’t.

While a 20% down payment can help you avoid private mortgage insurance (PMI), it’s not required to buy a home. In fact, many buyers—especially first-timers—qualify for mortgages with as little as 3% to 5% down. Some loan programs even offer zero down options for veterans and rural buyers!

Here’s a quick look at common options:

FHA Loans – As low as 3.5% down Conventional Loans – Some options start at 3% VA Loans – 0% down for eligible veterans USDA Loans – 0% down for rural property buyers

Bottom line: Don’t let the 20% myth keep you from moving forward. The best way to find out what’s possible is to speak with a lender and a trusted Realtor (that’s me!).

Ready to explore your options?

Let’s chat this weekend—I’ll guide you every step of the way.

Suzzi Kai