How Much Do You Need for a Down Payment?

 

Today, let's talk about how much do you really need for a down payment? Well, the truth is, it really depends.

 

The days of needing a 20% down payment, which is kind of the traditional conventional loan, are far gone in the past. And so, I personally, when I'm working with buyers, want to talk to them about their specific situation and get them connected to a lender that can get them the best deal that works for them.

 

For some of you, 20% is perfect. Helps minimize the amount of money that you're paying each month. Maybe you want to pay more. But for many people, keeping cash on hand and not paying as much on a down payment is an option.

 

In fact, today there are many opportunities to do 5% down, 3.5% down. And sometimes in many cases, we can find you situations where you can pay no money down for the down payment. So, if you're interested in what this might look like for you, let's talk.