this post was submitted on 07 Mar 2026
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Just an FYI for those in the US. If you're a first time homebuyer then there are loan programs available where you can pay as low as 0% down. The payments will be higher than if you made a 20% down payment of course but in my case they are still cheaper than rent would have been in my area. Basically they just tack on an extra monthly fee until you hit 20% equity but that fee isn't too horendous. In my case it adds about 7% to my total monthly mortgage payment. The whole 20% down thing is only really expected if you already own a home.
Loan accessibility and obcene home prices are still an issue of course. So while there are a lot of obsticles to buying a home, the down payment isn't nearly as big of one as many people think.