Think You Have To Put 20% Down? Most First-Time Homebuyers Don’t.
Team Olivieri
Monday, May 11, 2026
If you’ve been searching online for down payment answers lately, you’re not alone. More and more buyers are trying to figure out how much they really need to save before buying a home.
One of the biggest myths still floating around is that you need 20% down to buy. That’s simply not true for most first-time buyers.
Depending on the loan type, some buyers can get into a home with as little as 3% down. In some cases, qualified buyers may even have zero-down options available. That means the idea that you must wait until you’ve saved 20% could be delaying your move more than necessary.
That matters because it means your savings goal may not need to be as large as you think. And if you’ve been holding off because you thought you had to reach a full 20%, you may already be closer to buying than you realized.
Some offer grants, forgivable loans, or other financial support that can reduce how much you need to save on your own. For the right buyer, that can make a huge difference.
If you’ve been waiting to buy because you thought 20% was the magic number, it may be time to rethink that plan. There may be more options available to you than you realized.
The best next step is to talk to a trusted lender who can help you understand what you actually need, what you may qualify for, and how soon you could be ready to move forward.
Buying a home may be more achievable than you think.
One of the biggest myths still floating around is that you need 20% down to buy. That’s simply not true for most first-time buyers.
The 20% Down Payment Myth
Putting 20% down can have benefits, but it is not a requirement for many buyers. In fact, plenty of first-time buyers purchase with far less.Depending on the loan type, some buyers can get into a home with as little as 3% down. In some cases, qualified buyers may even have zero-down options available. That means the idea that you must wait until you’ve saved 20% could be delaying your move more than necessary.
What Buyers Are Actually Putting Down
If you’re wondering what most first-time buyers do, the answer may surprise you. The typical first-time buyer puts down much less than 20%.That matters because it means your savings goal may not need to be as large as you think. And if you’ve been holding off because you thought you had to reach a full 20%, you may already be closer to buying than you realized.
Why Down Payment Assistance Matters
Another thing many buyers don’t realize is that there are programs designed to help with upfront costs. These down payment assistance programs can help bridge the gap and make buying possible sooner.Some offer grants, forgivable loans, or other financial support that can reduce how much you need to save on your own. For the right buyer, that can make a huge difference.
What This Means for You
If you’ve been waiting to buy because you thought 20% was the magic number, it may be time to rethink that plan. There may be more options available to you than you realized.The best next step is to talk to a trusted lender who can help you understand what you actually need, what you may qualify for, and how soon you could be ready to move forward.
Buying a home may be more achievable than you think.
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