The biggest myth in homebuying is that you need 20% down. You don't. Plenty of buyers get into homes with a fraction of that — the trick is knowing your options.
Real minimums by program
- Conventional — as little as 3% down for eligible buyers
- FHA — 3.5% down
- VA — 0% down for eligible veterans and service members
- USDA — 0% down in eligible rural areas (parts of north Georgia qualify)
Where the money can come from
It doesn't all have to be cash you saved alone:
- Gift funds from family are allowed on many programs
- Down payment assistance programs exist for qualifying buyers
- Seller credits can offset closing costs, freeing up your cash for the down payment
The right question isn't "do I have 20%?" It's "which program fits what I actually have?" That's a five-minute conversation that opens a lot of doors.
Don't forget reserves
Putting every dollar into the down payment can leave you cash-poor on day one. Sometimes a lower down payment plus a healthy cushion is the smarter setup. Let's figure out the right balance for you.
This article is general education, not a commitment to lend or an offer of credit. Program availability, terms, rates, and qualification guidelines vary by lender and are subject to change; all loans are subject to underwriting and final approval. Market figures are approximate and change over time. For guidance specific to your situation, reach out directly. Garrett Potz, NMLS #631592 · Affinity Home Lending, Company NMLS #1181151 · Equal Housing Lender.