Do You Really Need 20% Down to Buy a Home? | Home Buyer Tips

Do you really need 20% down to buy a home? A lot of buyers assume the answer is yes—and that assumption may be keeping them on the sidelines longer than necessary. In this video, Sunita Bali explains why the down payment is only one part of the home-buying conversation and why understanding your complete financial picture matters before deciding whether you’re ready to buy. Using a $500,000 home as an example: 🏡 20% down = $100,000 🏡 3% down = $15,000 🏡 3.5% down = $17,500 Depending on eligibility and the loan program, some buyers may also have access to low-down-payment or zero-down financing options. But buying a home isn’t just about the down payment. Sunita also explains: Conventional, FHA, VA and USDA financing possibilities Down-payment assistance programs Closing costs, lender fees, taxes and insurance How seller contributions may affect the overall deal Why the cheapest house isn’t always the best deal How to compare renting versus owning How homeownership can help build equity over time Why the right Realtor and lender strategy matters She also walks through an important example: is a $500,000 home automatically a better deal than a $510,000 home? Not necessarily. Repairs, seller contributions, financing terms and total cash needed at closing can completely change the answer. And if you’re currently paying $2,500 per month in rent, that equals $30,000 per year—or $90,000 over three years. That doesn’t mean every renter should immediately buy, but it does mean the cost of waiting deserves to be part of the conversation. If you’ve been telling yourself: “I can’t buy because I don’t have 20% down,” don’t reject yourself before you understand your options. You may need more time. You may need to improve your credit or reduce debt. Or you may discover that you’re closer to homeownership than you thought. Sunita Bali and the Sunita Bali Team at eXp Realty help buyers understand their options, goals and next steps throughout Maryland, Washington DC and the surrounding DMV area. 🌐 Website: https://www.balihomes-md.com 🏡 Sunita Bali Team | eXp Realty If you're thinking about buying a home, reach out and start with a conversation. 👍 Like this video 💬 Comment with your home-buying question 📤 Share it with someone who still believes 20% down is always required 🔔 Subscribe for more home-buying and real-estate tips Loan programs, down-payment requirements, seller contributions and assistance programs vary based on eligibility, lender guidelines, property type and other factors. Speak with a qualified lender regarding your specific financial situation. 🔔Subscribe to my blog: https://www.balihomes-md.com/blog/do-...