If you’re dreaming about buying your first home but feel overwhelmed by the idea of saving up a huge down payment, you’re not alone. One of the most common misconceptions in real estate is that you need 20% down to buy a home. The good news? That’s simply not true.

You May Not Need Nearly as Much as You Think

While putting more money down can have its advantages, most first-time buyers don’t need to hit that 20% mark. In fact, many loan programs are built specifically to make homeownership more accessible.

For instance, certain loans allow down payments as low as 3%, and some—like VA or USDA loans—offer zero down for qualifying buyers. The reality is, the average first-time buyer puts down far less than 20%. According to industry data, the median down payment for new buyers is closer to 9%.

Help Is Out There—You Just Have to Know Where to Look

Even better? There are assistance programs designed to make your journey even smoother. Down payment assistance (DPA) programs are often overlooked, but they can make a big difference. In fact, the average benefit from these programs is around $17,000—money that could go straight toward your home purchase.

With thousands of dollars potentially available, and the option to combine multiple programs in some cases, it’s worth looking into what you may qualify for.

Bottom Line

Don’t let outdated myths hold you back. You don’t need 20% down to buy a home, and there are resources that can help you get there faster. Curious about what’s possible for you? Let’s connect—I’m happy to walk you through your options and help you take that first step toward homeownership.