Do You Really Need 20% Down to Buy a Home?

One of the most common home-buying myths is that you need a 20% down payment before you can purchase a home.

The truth? Some qualified buyers can purchase with much less.

Your down payment requirements depend on your loan program, lender, and financial qualifications. A smaller down payment may make homeownership more accessible, although it can also affect your monthly payment and mortgage insurance costs.

Remember to budget for closing costs, moving expenses, and emergency savings, too.

If you're hoping to buy a home in Bozeman, start by talking with a lender about your options.

You may have more possibilities than you think.

The first step isn't saving a perfect amount—it's understanding what you need.