{"id":6381,"date":"2026-04-27T10:30:00","date_gmt":"2026-04-27T10:30:00","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2026\/04\/27\/think-you-have-to-put-20-down-most-first-time-homebuyers-dont\/"},"modified":"2026-04-27T10:30:00","modified_gmt":"2026-04-27T10:30:00","slug":"think-you-have-to-put-20-down-most-first-time-homebuyers-dont","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2026\/04\/27\/think-you-have-to-put-20-down-most-first-time-homebuyers-dont\/","title":{"rendered":"Think You Have To Put 20% Down? Most First-Time Homebuyers Don\u2019t."},"content":{"rendered":"\n

$\"Think$ \n

According to Google Trends<\/em>, online searches<\/a> for down payment information recently hit an all-time high. And that\u2019s a clear sign more buyers are trying to figure out what they really need to save before making a move (see graph below)<\/em>:<\/p>\n

$\"a$ <\/a>If you\u2019re wondering the same thing, you can always turn to the internet for answers. But a lot of the time, it\u2019s better to ask a local expert. Because here\u2019s what a pro would tell you.<\/p>\n

The 20% Down Payment Myth<\/strong><\/h4>\n
The idea that you need 20% down to buy a home is one of the biggest misconceptions around the homebuying process. And the data debunks the myth.<\/p>\n
While there are benefits to putting that much money down, most first-time buyers put down far less.<\/strong><\/p>\n
Here\u2019s why. Unless it\u2019s stated by your lender, you typically don\u2019t have <\/em>to have a 20% down payment. There are even some loan options designed to help you get into a home with a much smaller upfront cost. As the Mortgage Reports<\/em> explains:<\/p>\n
\u201cThe amount you need to put down will depend on a variety of factors, including the loan type and your financial goals. If you don\u2019t have a large down payment saved up, don\u2019t worry\u2014there are plenty of options available, and <\/em>you don\u2019t need to put down the traditional 20% <\/em><\/strong>. . . <\/em>many homebuyers are able to secure a home with as little as 3% or even no down payment at all<\/em><\/strong> . . .<\/em>\u201d<\/em><\/strong><\/p><\/blockquote>\n
For example, FHA<\/a> loans allow down payments as low as 3.5%<\/a>, while VA<\/a> and USDA loans<\/a> offer zero down payment options for qualified applicants, like Veterans.<\/p>\n
And those options are just one reason so many first-time buyers are able to buy without a 20% down payment.<\/p>\n
What Buyers Are Actually Putting Down<\/strong><\/h4>\n
So, if buyers aren\u2019t doing 20%, how much do they actually put down?<\/p>\n
According<\/a> to the National Association of Realtors<\/em> (NAR), the median down payment for first-time homebuyers is only 10%. That\u2019s half of what you probably expected.<\/strong><\/p>\n
$\"a$ <\/a>That means if you\u2019re aiming to save 20% because you think you have to, you may be setting a timeline that\u2019s longer than necessary.\u00a0\u00a0<\/strong><\/p>\n
And here\u2019s some more good news. It\u2019s not only that you may be able to buy with less money down than you thought, but there are also options to help you get to your down payment goal even faster.<\/p>\n
Why You Should Look into Down Payment Assistance Programs<\/strong><\/h4>\n
There are a lot of programs designed to help you save for a down payment \u2013 and they can make a big difference in how fast you hit your savings target. Unfortunately, buyers don\u2019t realize how many there are, or that they may qualify for help.<\/p>\n
Research from Realtor.com <\/em>shows<\/a> <\/em>almost 80% of first-time homebuyers qualify for down payment assistance (DPA), but only 13% actually use it<\/strong> (see chart below)<\/em>:\u00a0<\/p>\n
$\"a$ <\/a>And that\u2019s another big miss holding would-be buyers like you back.<\/p>\n
In the U.S., there are over 2,600<\/a> homeownership programs available, many offering significant financial support. As Down Payment Resource <\/em>shares<\/a>:<\/p>\n
\u201cWith an average benefit of $18,000, down payment assistance (DPA) remains one of the most essential tools for addressing the nation\u2019s affordability challenges.<\/em><\/strong> Programs continue to expand in scope, serving a broader range of incomes, property types and borrower needs, including first-generation, military and repeat buyers.<\/em>\u201d<\/p><\/blockquote>\n
Imagine how much further your savings could go with an extra $18,000 you can use to buy. In some cases, you may even be able to stack multiple programs, giving what you\u2019ve saved an even bigger boost.<\/p>\n
Bottom Line<\/h3>\n
The simple truth is: most first-time buyers don\u2019t put 20% down<\/strong>. And if you\u2019ve been waiting to buy until you have that saved, you may be setting a timeline that\u2019s longer than necessary.<\/p>\n
To find out what you really need to save and if you qualify for any help, connect with a trusted lender who can walk you through your options. You may be able to buy sooner than you thought.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
According to Google Trends, online searches for down payment information recently hit an all-time high. And that\u2019s a clear sign more buyers are trying to figure out what they really need to save before making a move (see graph below): If you\u2019re wondering the same thing, you can always turn to the internet for answers. […]<\/p>\n","protected":false},"author":1,"featured_media":6382,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-6381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2026\/04\/Header-Image-Spring-2021-Seller-Guide-11-original.png?fit=750%2C410&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pdz2Zu-1EV","_links":{"self":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/6381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/comments?post=6381"}],"version-history":[{"count":0,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/6381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media\/6382"}],"wp:attachment":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media?parent=6381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/categories?post=6381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/tags?post=6381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}