Why “You Need 20% Down” is a Myth: The Pros and Cons of a Buying a Home with a Low Down PaymentWe’ve all heard it before: Before you can take the leap into the housing market, you need to start saving up to make a sizable down payment. For years, putting down 20% of a home’s purchase price was held up as the gold standard. While many still consider this figure to be their goal, rising housing prices are causing others to look for alternatives. Ultimately, only you and your financial advisor can decide on the best path for you to take.
Tara Mastroeni
Oct 14, 2022