You don’t need to save 20% to put a down payment on a house.

Did you know that most buyers think you need 20% down to buy a home? It’s simply not true. The 20% rule hasn’t been accurate since 2005. It’s more of an exception than the rule these days.

You can put as little as 3% down with a conventional loan, 3.5% down with an FHA loan, or 0% down if you’re a veteran who’s using a VA loan. If you don’t have the 3% saved for a down payment, you’re in luck because we have down payment assistance loans you can apply for. If you aren’t sure which loan program is best for you, I have amazing lenders that we can connect you with to start that process.

“The 20% rule of thumb hasn’t been accurate since 2005.”

If you do have 20% saved, I think it’s worth putting the minimum percent down instead of using the full 20%. The average down payment for a first-time homebuyer is around 7%. Across the board, it’s only 12%. Reach out to a trusted real estate agent like myself to find out what’s best for you. Often, this 20% rule is what keeps people from starting the home-buying process. The longer you wait, the more money it’s going to cost you. Don’t let this misconception stop you.

If you have any questions, you can call me at 602-741-7531 or send me an email at I’d love to hear from you and answer any questions you may have.