The 20% Down Rule Isn’t a Mortgage Must-Have

The idea that you must save 20% for a home is a convention, not a rule: smaller down payments can be viable and even cheaper in the long run thanks to PMI being temporary, with options like conventional loans (as low as 3% down), FHA (3.5%), ARMs, and piggyback loans; pre-approval reveals what you can borrow and what monthly costs look like, while cash reserves for repairs are wise; state programs and UpPayment assistance can help first-time buyers—so run the numbers and consider buying sooner rather than waiting years to hit 20%.