Myth #1 Debunked — Do You Really Need 20% Down to Buy a Home?
There’s a lot of outdated information floating around in real estate, and one of the biggest myths we still hear from buyers is this:
“I need 20% down before I can buy a home.”
Let’s clear that up — because for many buyers today, that simply isn’t true.
The Myth
For years, the 20% down payment became the “gold standard.” While putting 20% down can have benefits (like avoiding private mortgage insurance in some cases), it is not a requirement for most homebuyers.
Believing this myth often causes buyers to delay their goals for years when they may already be closer than they think.
The Reality
Today’s market offers multiple loan programs that allow qualified buyers to purchase with significantly less money down. Depending on the loan type and buyer qualifications, some programs offer options with:
Low down payment conventional loans
FHA loan programs
VA loans for eligible service members and veterans
USDA options in qualifying areas
The key is understanding what you specifically qualify for, which is why having the right guidance early matters so much.
Why This Matters
We regularly meet buyers across Sherman, Denison, and the greater Texoma area who assume homeownership is years away — when in reality, they may already be in a strong position to start the conversation.
Accurate information creates confident decisions. And confident buyers are the ones who truly love where they live. 🏡🤍
Our Advice
If buying a home is on your heart (even if it feels far off), don’t let outdated myths keep you on the sidelines. A quick conversation with the right team and lender can give you clarity on:
What you might qualify for
What your true timeline could look like
Steps to strengthen your buying position
Every situation is different, but knowledge is always the first step forward.
Curious what you might qualify for?
We’d love to be a resource for you whenever you’re ready to explore your options.
Faithful Heritage Group
Helping you love where you live. 🏡🤍