SREG Blog - How Much Down Payment?
- Robert Silva
- Jul 2
- 1 min read
Don't Let Down Payment Scare You Away from Ownership!
A lot of people still believe you need 20% down to buy a home. The truth is—you don’t.
In today’s market, there are several loan options that require much less.
For example, FHA loans can be as low as 3.5% down. Conventional loans can go as low as 3% down for qualified buyers. If you’re a veteran, VA loans may allow you to purchase with zero down.
So why do people still think it’s 20%?
Because putting 20% down helps you avoid mortgage insurance—but it’s not a requirement to buy.
The real question isn’t just how much you can put down… It’s how much makes sense for you and your family.
Sometimes it’s better to keep more money in the bank for reserves, repairs, or unexpected expenses—especially as a homeowner.
Also, there are down payment assistance programs that can help bridge the gap, depending on your situation.
Bottom line—buying a home may be more achievable than you think.
If you’ve been waiting because you thought you needed a large down payment, it might be worth having a conversation and looking at your options.
— Silva Real Estate Group Home & Mortgage, helping families make the right move
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