The Minimum Down Payment Required: What You Really Need to Know

When it comes to buying a home, one of the biggest questions people ask is:“How much do I need for a down payment?”

It’s an important question — and the answer can make a huge difference in how soon you’re able to buy.

💡 Most People Get This Wrong

If you guessed 10% or 20%, you’re not alone. Those are the most common answers people give when asked about the minimum down payment required.

But here’s the truth:

👉 You may be able to buy a home with as little as 3% down.

That’s right — you don’t always need to save tens of thousands of dollars before you can start your homeownership journey.

📊 The Surprising Stats

According to FirstHomeIQ, only 8 out of 100 people actually know this fact. That means 92% of potential buyers are overestimating how much they need to save — and possibly delaying their dream of owning a home because of misinformation.

🚫 Don’t Let Myths Hold You Back

Believing you need 20% down can make homeownership feel out of reach. But with today’s loan programs, first-time buyers have more options than ever before.

The key is to talk to a trusted lender who can walk you through your choices and help you find the best fit for your budget and goals.

✅ Bottom Line

You don’t always need 10% or 20% down to buy a home — in many cases, you can get started with just 3%.Knowing the real numbers can save you time, money, and unnecessary stress on your journey to homeownership.

If you’re thinking about buying, don’t let misinformation hold you back.

Reach out to a seasoned real estate professional, like us, who can guide you through every step of the process and connect you with trusted lenders.

Whether you’re buying your first home or your next one — we’re here to help with all your real estate needs.