Do I Need 20% Down to Buy a Home?
No. Many buyers can use a loan with less than 20% down if they qualify. The right comparison is the total cash required, monthly payment, insurance, and savings left after closing.
Compare both sides of the decision
A larger down payment reduces the loan balance, but also commits more cash to the home. A smaller contribution may preserve savings while increasing the financed balance and monthly costs.
Let your budget guide the choice
Ask the lender to compare scenarios at the same home price. Dominique can help translate the resulting budget into a practical neighborhood and property search.
| Your priority | Smaller down payment | Larger down payment |
|---|---|---|
| Preserve cash | May leave more savings | Commits more upfront |
| Loan balance | Higher amount borrowed | Lower amount borrowed |
| Mortgage insurance | May apply | May be avoided, depending on loan |
Talk to Dominique About Your Down Payment
Share your plans, priorities, and timing with Dominique.