By Valerie Beausoleil
Myth vs Fact: Do You Really Need 20% Down?
One of the biggest myths in real estate might be holding you back.
The 20% down myth is one of the biggest things holding buyers back.
Let’s clear this up right away:
You do NOT need 20% down to buy a home.
This is one of the most common misconceptions we hear from buyers in Alamance County.
If you're still unsure whether buying now makes sense for you, start with our 2-minute move decision quiz .
Where the 20% Myth Came From
The 20% down payment became popular because it allows buyers to avoid private mortgage insurance (PMI).
But it was never a requirement.
What Most Buyers Actually Do
- Many buyers put down 3%–5%
- Some loan programs allow 0% down
- First-time buyer programs offer assistance
- Seller concessions may help reduce upfront costs
What matters most is not hitting a specific percentage — it’s choosing a strategy that fits your financial comfort and long-term goals.
And if you're also trying to understand what your budget might look like in today’s market, it helps to understand real home values beyond online estimates. You can read more about that here: Zestimate vs. Real Home Value .
Want to Understand Your Options?
A quick strategy call can help you map out what buying actually looks like for you.
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