Do You Really Need a 20% Down Payment to Buy a Home?
Posted by Jenny Maraccini on August 3, 2026
One of the biggest misconceptions about buying a home is that you need to save a 20% down payment before you can even begin looking.
The reality? Many buyers purchase homes with much less.
While putting 20% down has advantages—such as avoiding private mortgage insurance (PMI) on many conventional loans—it isn’t a requirement for every buyer.
Why the Myth Exists
Years ago, a 20% down payment became a common benchmark because it often helped buyers secure more favorable loan terms and avoid additional costs.
Over time, many people began to believe it was mandatory.
Today, that’s simply not true.
There Are Many Loan Options
Depending on your financial situation and the type of loan you choose, you may qualify with a much smaller down payment.
Different loan programs have different requirements, and a trusted lender can help you understand which options fit your goals. At IRPINO Real Estate we work with the best lenders to guide you through the process.
Don’t Let a Myth Delay Your Plans
Many buyers spend years saving for 20%, only to discover they could have started the home-buying process much sooner.
The best first step isn’t guessing—it’s having a conversation with a lender and a real estate professional.
Understanding your options can help you make a confident decision and create a realistic plan for homeownership.
We’re Here to Help
At IRPINO Real Estate, we work with trusted local lenders who can walk you through your financing options and help you determine what works best for your situation.
Whether you’re ready to buy now or just starting to explore the market, we’re here to guide you every step of the way. Contact us today to get started.
