[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fsb2wprtdopys":3,"$ffeh0925h8cuz":51,"$fbwk2pqjjqsc7":55},{"item":4,"previous":39,"next":45},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":37,"updatedAt":38},92334,"the-truth-about-down-payments-its-not-what-you-think","The Truth About Down Payments (It’s Not What You Think)","\u003Cp>Buying a home is exciting… until you start thinking about the down payment. That’s when the worry can set in.\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20250730\u002F20250804-Blog-Header-Image-original.png","\u003Cp>Buying a home is exciting… until you start thinking about the down payment. That’s when the worry can set in.\u003C\u002Fp>\u003Cp>\u003Cem>“I’ll never save enough.”\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cem>“I need a small fortune just to get started.”\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cem>“I guess I’ll just rent forever.”\u003C\u002Fem>\u003C\u002Fp>\u003Cp>Sound familiar? You’re not alone. And you’re definitely not out of luck.\u003C\u002Fp>\u003Cp>Here’s the thing: \u003Cstrong>a lot of what you’ve heard about down payments just isn’t true.\u003C\u002Fstrong> And once you know the facts, you might realize you’re a lot closer to owning a home than you think.\u003C\u002Fp>\u003Cp>Let’s break it all down and bust some big down payment myths while we’re at it.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Myth 1: “I need to come up with a big down payment.”\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>This one stops a lot of people in their tracks. A recent \u003Ca href=\"https:\u002F\u002Fwww.neighborworks.org\u002Fsites\u002Fdefault\u002Ffiles\u002F2025-06\u002F2505083_crosstabs_AUTO_NWA_2505083_US_Omnibus_Adults.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">poll\u003C\u002Fa> from \u003Cem>Morning Consult\u003C\u002Fem> and \u003Cem>NeighborWorks\u003C\u002Fem> shows \u003Cstrong>70% of Americans think they need to put at least 10% down to buy a home\u003C\u002Fstrong>. And 11% aren’t sure what’s required at all (\u003Cem>see graph below\u003C\u002Fem>): \u003C\u002Fp>\u003Cp>\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20250730\u002F20250804-70--of-Americans-Think-They-Need-To-Put-at-Least-10--Down-To-Buy-a-Home-original.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20250730\u002F20250804-70--of-Americans-Think-They-Need-To-Put-at-Least-10--Down-To-Buy-a-Home-original.png\" alt=\"a graph of a number of blue and yellow squares\">\u003C\u002Fa>The truth? \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fblogs\u002Feconomists-outlook\u002Ftackling-home-financing-and-down-payment-misconceptions\" rel=\"noopener noreferrer\" target=\"_blank\">According\u003C\u002Fa> to the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR), \u003Cstrong>the typical down payment for first-time buyers has been between 6% and 9% since 2018.\u003C\u002Fstrong> But there’s more to the story. If you qualify for an FHA loan, \u003Cstrong>you may only need to put \u003C\u002Fstrong>\u003Ca href=\"https:\u002F\u002Fwww.hud.gov\u002Fhelping-americans\u002Floans\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cstrong>3.5%\u003C\u002Fstrong>\u003C\u002Fa>\u003Cstrong> down. \u003C\u002Fstrong>And\u003Cstrong> \u003C\u002Fstrong>\u003Ca href=\"https:\u002F\u002Fwww.benefits.va.gov\u002Fhomeloans\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">VA loans\u003C\u002Fa> \u003Cstrong>typically don’t require a down payment at all.\u003C\u002Fstrong> So, there are options out there that can really make a difference for some buyers.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Myth 2: “It’ll take forever to save up for a down payment.”\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Sure, saving can take time. \u003Cstrong>But it may not have to be as long as you think.\u003C\u002Fstrong> In many states, reaching your goal can happen faster than you might expect, especially when you know your budget and have a clear savings plan.\u003C\u002Fp>\u003Cp>According to a new study, the amount of time varies depending on where you live. The map below shows, on average, how many years it takes to save up for a 10% down payment based on typical home values and income levels in each state (\u003Cem>see map below\u003C\u002Fem>):\u003C\u002Fp>\u003Cp>\u003Cstrong>\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20250730\u002F20250804-Saving-for-a-Home-May-Not-Take-as-Long-as-You-Think-original.png\">But remember, in most cases you won’t even need a down payment as large as 10%.\u003C\u002Fstrong> Plus, no matter how much money you end up putting down, it won’t all have to come out of your pocket. Here’s why.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Myth 3: “I have to do it all on my own.”\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>This is one of the biggest myths of all. The reality is, \u003Cstrong>there are thousands of \u003C\u002Fstrong>\u003Ca href=\"https:\u002F\u002Fdownpaymentresource.com\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cstrong>down payment assistance\u003C\u002Fstrong>\u003C\u002Fa>\u003Cstrong> programs out there, and the same poll from \u003Cem>Morning Consult\u003C\u002Fem> and \u003Cem>NeighborWorks\u003C\u002Fem> shows \u003C\u002Fstrong>\u003Ca href=\"https:\u002F\u002Fwww.neighborworks.org\u002Fsites\u002Fdefault\u002Ffiles\u002F2025-06\u002F2505083_crosstabs_AUTO_NWA_2505083_US_Omnibus_Adults.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cstrong>39%\u003C\u002Fstrong>\u003C\u002Fa>\u003Cstrong> of people \u003Cem>don’t even know\u003C\u002Fem> \u003Cem>about them\u003C\u002Fem>.\u003C\u002Fstrong> That means a lot of potential homebuyers could already be closer to homeownership – they just don’t realize it. \u003C\u002Fp>\u003Cp>These assistance programs are designed to help people like you who are ready to own a home but just need a little support getting started. As Miki Adams, President at \u003Cem>CBC Mortgage Agency\u003C\u002Fem>, explains:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“With high interest rates and soaring home prices, \u003C\u002Fem>\u003Cstrong>\u003Cem>down payment assistance is more essential than ever.\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem>”\u003C\u002Fem>\u003C\u002Fblockquote>","\u003Cp>If you’ve been putting off buying a home because the down payment feels like too much to tackle, let’s talk. You may not need as much as you think, and there are plenty of resources out there, so you don’t have to do it alone. You just need an expert to point you in the right direction.\u003C\u002Fp>\u003Cp>\u003Cstrong>If a down payment wasn’t holding you back, would you be ready to start your home search?\u003C\u002Fstrong>\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20250730\u002F20250804-70--of-Americans-Think-They-Need-To-Put-at-Least-10--Down-To-Buy-a-Home-original.png",false,[17,21,25,29,33],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},53,"Rent vs. Buy","rent-vs-buy",{"id":30,"name":31,"slug":32},322,"Affordability","affordability",{"id":34,"name":35,"slug":36},323,"Buying Tips","buying-tips","2025-08-04T10:30:00Z","2025-08-04T10:30:09Z",{"id":40,"slug":41,"title":42,"featuredImage":43,"publishedAt":44,"contentType":10,"isVideo":15},92154,"the-3-things-you-risk-by-pricing-too-high","The 3 Things You Risk by Pricing Too High","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20250728\u002F20250731-Blog-Header-Image-original.png","2025-07-31T10:30:00Z",{"id":46,"slug":47,"title":48,"featuredImage":49,"publishedAt":50,"contentType":10,"isVideo":15},92417,"3-advantages-of-buying-a-newly-built-home-today-infographic","3 Advantages of Buying a Newly Built Home Today","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20250731\u002F20250805---KCM-SHARE-3-Advantages-of-Buying-a-Newly-Built-Home-Today--original.png","2025-08-05T10:30:00Z",{"cover":52,"open":53,"shareSpread":54},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[56,60,61,65,69,73,77,78,82,86,90,94,98,102,106,107,111,115,119,123,127,131,132,133,137,141,145,149,153,157],{"id":57,"name":58,"slug":59},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":62,"name":63,"slug":64},6,"For Sellers","sellers",{"id":66,"name":67,"slug":68},7,"Foreclosures","foreclosures",{"id":70,"name":71,"slug":72},8,"Infographics","infographics",{"id":74,"name":75,"slug":76},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":79,"name":80,"slug":81},34,"Senior Market","senior-market",{"id":83,"name":84,"slug":85},35,"Mortgage Rates","mortgage-rates",{"id":87,"name":88,"slug":89},38,"Move-Up","move-up",{"id":91,"name":92,"slug":93},41,"For Sale by Owner","for-sale-by-owner",{"id":95,"name":96,"slug":97},42,"Featured","featured",{"id":99,"name":100,"slug":101},45,"New Construction","new-construction",{"id":103,"name":104,"slug":105},52,"Luxury \u002F Vacation","luxury--vacation",{"id":26,"name":27,"slug":28},{"id":108,"name":109,"slug":110},80,"Time-sensitive","time-sensitive",{"id":112,"name":113,"slug":114},81,"Outdated","outdated",{"id":116,"name":117,"slug":118},147,"Internal","internal",{"id":120,"name":121,"slug":122},148,"Do Not Autopost","do-not-autopost",{"id":124,"name":125,"slug":126},320,"Inventory","inventory",{"id":128,"name":129,"slug":130},321,"Agent Value","agent-value",{"id":30,"name":31,"slug":32},{"id":34,"name":35,"slug":36},{"id":134,"name":135,"slug":136},324,"Downsize","downsize",{"id":138,"name":139,"slug":140},325,"Economy","economy",{"id":142,"name":143,"slug":144},326,"Equity","equity",{"id":146,"name":147,"slug":148},327,"Forecasts","forecasts",{"id":150,"name":151,"slug":152},328,"Selling Tips","selling-tips",{"id":154,"name":155,"slug":156},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":158,"name":159,"slug":160},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]