How much you’ll need to save for your down payment depends on a variety of factors.

How much do you need for your down payment when buying a home? For first-time homebuyers, affording the down payment is usually the biggest hurdle. Unfortunately, there’s no one-size-fits-all answer to this question. You may have to pay anywhere from 0% down to the full 20%. Where you fall in that range depends on a lot of factors, including your credit score, employment history, bank balances, etc.

Once you know these things, you can start looking at the hundreds of loan options available to you. The best thing you can do to answer this question for yourself is to talk to a lender. They’ll have all the latest information about every loan option, and they’ll help you find the best deal possible.

If you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.