Do I really need a 20% down payment to buy a home?

No—while 20% is a common benchmark, recent homebuyers typically put down far less. Depending on your situation and loan type, you may be able to qualify with a much smaller down payment.

What loan programs allow down payments under 20%?

FHA loans, VA loans, and USDA loans are programs that can help qualified buyers put down as little as 0–3.5% of the purchase price, making homeownership more accessible than many realize.

How do I know if I'm ready to buy a home with a lower down payment?

It's important to connect with a trusted lender and work with a real estate advisor like Anne-Britt at Mountain Rose Realty to assess your financial readiness and explore which loan programs you may qualify for.

You May Not Need as Much as You Think for Your Down Payment [INFOGRAPHIC]

By Anne-Britt OstlundFebruary 3, 20231 min read

Buying a Home

You May Not Need as Much as You Think for Your Down Payment [INFOGRAPHIC] | MyKCM

Some Highlights

Many people believe you need to put down 20% of the purchase price when you buy a home. But recent homebuyers actually put down far less on their purchase.
And with programs like FHA loans, VA loans, and USDA loans, some qualified buyers are able to put down as little as 0-3.5%.
Connect to Anne-Britt of Mountain Rose Realty to make sure you have a trusted lender and can find out if you’re ready to buy a home sooner rather than later.

Frequently Asked Questions

Do I really need a 20% down payment to buy a home?: No—while 20% is a common benchmark, recent homebuyers typically put down far less. Depending on your situation and loan type, you may be able to qualify with a much smaller down payment.
What loan programs allow down payments under 20%?: FHA loans, VA loans, and USDA loans are programs that can help qualified buyers put down as little as 0–3.5% of the purchase price, making homeownership more accessible than many realize.
How do I know if I'm ready to buy a home with a lower down payment?: It's important to connect with a trusted lender and work with a real estate advisor like Anne-Britt at Mountain Rose Realty to assess your financial readiness and explore which loan programs you may qualify for.