Whoever told you that you need 20% down is lying to you

Myth: You need 20% down to buy a house. This comes up constantly with prospective homebuyers (and even agents) and it's stopping people from buying.

Reality:
- Conventional loans: as low as 3% down
- FHA: 3.5% down
- VA loans: 0% down (if you qualify)
- USDA: 0% down (rural areas)

AND there are down-payment assistance options and grants to reduce that even further.

The 20% thing isn't a requirement... it's just when you avoid PMI.

PMI is an additional cost monthly. Typically, below $200 (on a $450k home) Not ideal, but it's not a dealbreaker.

If you're waiting to save 20% in this market, you're potentially waiting yourself out of homes you could have bought 3 years ago.