How Much Do You Need for a Down Payment?

As you begin your home-buying journey, one of the first steps is to save up for a down payment. Many people think you must put 20% down, but this notion is outdated and no longer the only option for getting into a house. In fact, the median down payment in 2019 was 12%. This figure drops to 6% for first-time buyers and increases to 16% for repeat buyers. Depending on your loan type and credit score, you could put down as little as 3%. And if you qualify for a VA or USDA loan, you may be able to buy a house with $0 down.

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