Friday, February 11, 2022 / by Shane Kilby
How Much Down Payment Do You Need?
You don’t need to put 20% down, but there are some benefits to it.
Do you need to put 20% down to buy a home? People always ask how much money they have to put down, so we want to take a deep dive into down payments. We'll cover if you need a big down payment, when you should put less down, and when you should put more money down. There are a few benefits to putting down a large payment, but it is in no way a requirement to buy a home.
You can watch the full message above or skip to each section using the timestamps provided:
0:00 — Introducing today’s topic
0:58 — Benefit No. 1: A larger down payment could lower your interest rate
1:21 — Benefit No. 2: It will save you money
2:01 — Benefit No. 3: A bigger down payment helps your offer win
3:54 — Should you buy if you can’t put down 20%?
5:09 — Even if you only have 5%, I would suggest we look for that dream house
6:31 — Wrapping up
If you have any questions about buying, selling, or real estate in general, please reach out to me or anyone on my team. Feel free to call or email us. We would love to talk with you.
