You need 20% down

You’ve probably heard by now that you can’t buy a home without a down payment of 20% or even more. However, it’s not true, as there are many loans out there that will let you buy a home with less than 20% down.” as Stacy Johnson, the Money Talks News founder, explained.

For example, FHA loans only require a 3.5% down, while VA loans might not need a down payment at all. Also, lots of banks and mortgage lenders have conventional mortgages for less than 20% down.

So paying less than that amount might get you home sooner. However, keep in mind that even if you CAN get a home for less than 20% down, it doesn’t mean that you should.