You may have heard you must save 20% to buy a home. That rule made sense long ago, but it is not how most buyers purchase today. Good news: there are many safe paths to homeownership with far less cash. Here’s how today’s loans help you get the keys sooner, without draining your savings.

The 20% rule is old news

Many strong buyers put less than 20% down. Lenders now have tools that lower the entry barrier while keeping risk in check. With solid income, steady credit, and a clear plan, you can buy with a smaller down payment and start building equity sooner.

Low down payment loan options

Some conventional loans allow as little as 3% down for qualified buyers. FHA loans often need only 3.5% down. Veterans and active‑duty service members may use VA loans with no down payment. Certain homes in eligible areas may qualify for USDA loans with no down payment as well. The right match depends on your income, credit, location and goals. A loan officer can help you compare which path fits you best.

Mortgage insurance is a helpful tool

When you put less than 20% down, most loans use mortgage insurance. Think of it as a bridge that helps you buy sooner. On many conventional loans, you can remove this cost later once you have enough equity. Until then, it keeps your monthly payment manageable while you benefit from living in your own home.

Help with your upfront costs

Down payment gifts from family, local grants and state programs can cover part of your upfront cash. Seller credits or lender credits can lower closing costs as well. These options can help you hold on to your emergency fund and move in with confidence.

Buying sooner can beat waiting

While you wait to save 20%, home prices and rents can rise. Owning lets you lock in your housing cost and build equity with every payment. Even with a small down payment, the long‑term gain from ownership can outweigh the short‑term cost.

You do not need to hit a 20% mark to be a smart buyer. With today’s loans, support programs and a clear plan, you can step into a home on your timeline. Talk with our mortgage team to see which low‑down option helps you move in sooner and keep more cash in your pocket.