There’s a good chance that you have heard about the 20% rule for down payments. Here’s the truth, though, it’s a myth. Down payments come in a variety of sizes. What really matters is the loan program. Some home loan programs require nothing for a down payment, for qualified borrowers, while others require only 3-5%.
Before you know how much your down payment will be, it’s important to determine the right loan program for your needs. Our team is here to help!