If you're considering buying a home, you're likely wondering how much you’ll need for a down payment. The common belief is that you need to put down 20% of the home’s purchase price, but that’s not the only option and in many cases, it’s not even necessary. Let’s break down what’s really required and explore your choices. The Traditional 20% RuleTraditionally, lenders prefer a 20% down payment. Why? Because it lowers their risk. If you’re purchasing a … [Read more...]