top of page
Search

Think You Need 20% Down to Buy a Home? Think Again‼️


CLICK IMAGE FOR BREAKDOWN!
CLICK IMAGE FOR BREAKDOWN!

One of the biggest myths in real estate is that you need a large down payment to buy a home.

The truth? Many buyers are purchasing homes with far less — and you might be able to as well.


💡 The Truth About Down Payments


Here’s what most people don’t realize:

  • Many buyers put down 10% or less

  • First-time homebuyers average around 10% down

  • FHA loans start at just 3.5% down

  • Conventional loan options are available with as little as 3% down

  • VA loans offer 0% down for qualified buyers



🏠 Why You Don’t Need to Wait Years


Many potential buyers delay purchasing because they believe they need to save 20%.

In reality, waiting could cost you more due to:

  • Rising home prices

  • Increasing rent costs

  • Missed opportunities to build equity


Getting into the market sooner — with the right strategy — can be more beneficial than waiting.


📊 What Loan Options Are Available?


FHA Loans

  • Minimum 3.5% down

  • Flexible credit guidelines

  • Ideal for first-time buyers


Conventional Loans

  • As low as 3% down

  • Great for buyers with strong credit

  • Lower long-term costs in some cases


VA Loans

  • 0% down for eligible veterans and service members

  • No private mortgage insurance (PMI)



Each option has its own benefits depending on your financial situation.


📍 Buying in Queens, Long Island, or Nassau County


If you’re planning to buy locally, understanding your options is key.

Every buyer’s situation is different — and the best loan depends on your income, credit, and goals.


👉 See what you qualify for: https://www.ljmortgageteam.com/affordability

📲 Ready to Create Your Plan?

You don’t need to guess or wait years to get started.

Let’s break down your numbers, explore your options, and build a strategy that works for you.



📊 Connect With Us! 📊








Click to Connect!



📍 LJ – Your Local Guide to Homeownership!


127-03 Rockaway Blvd South Ozone Park, NY 11420

(516) 218-1297

LJ Realty Team

Buy • Sell • Rent

Equal Housing Opportunity

LJ Mortgage Team Inc. NMLS 2120286

Purchase & RefinanceNYS Registered Mortgage Broker, NYS Dept. of Financial Services.

Broker arranges mortgage loans with third-party providers.

Important Disclosure: Mortgage Broker Only — Not a mortgage lender or mortgage correspondent lender. Licensed By The N.J. Department Of Banking And Insurance. We Do Not Make Any Mortgage Loan Commitments Or Fund Any Mortgage Loans.

NMLS ID 2120286

Terms and Conditions apply.


Frequently Asked Questions❓ (FAQs)❓


Do I really need 20% down to buy a home?
No. Many loan programs allow you to buy with as little as 3%–5% down, and some options even offer 0% down.

What is the lowest down payment option?
VA loans offer 0% down for qualified buyers, while FHA loans start at 3.5%.

Is it better to put 20% down?
Putting 20% down can help you avoid PMI, but it’s not required. Many buyers choose lower down payment options to enter the market sooner.

Can I buy a home with 3% down?
Yes, certain conventional loan programs allow qualified buyers to purchase with as little as 3% down.

How do I know what I qualify for?
The best way is to review your income, credit, and goals with a mortgage professional.
 
 
 

Comments

bottom of page