Home Financing
Understanding Down Payments
June 24, 2026
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Hello,
One of the biggest misconceptions about buying a home is that you need 20% down.
The truth is many loan programs allow much less.
Examples may include:
- VA loans: Qualified veterans may purchase with little or no down payment.
- FHA loans: Often as little as 3.5% down.
- Conventional loans: Some programs allow as little as 3% down for qualified buyers.
A larger down payment can:
- Reduce your monthly payment
- Lower loan costs
- Increase equity immediately
However, waiting years to save a large down payment may not always be necessary.
The best down payment amount depends on your financial goals and available funds.
Not sure where to start? Click here to review your options.
Sincerely,
Marty Prince
Mortgage Technology
www.MortgageTechLoans.com
Office: 714-289-1609
Email: mprince@socal.rr.com
DRE #00887075
NMLS #246997