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Do I Need a 20% Down Payment to Qualify for a Mortgage

Is the idea of saving for a down payment holding you back from buying a home right now?  

You may be eager to take advantage of today’s low mortgage rates, but the thought of needing a large down payment might make you want to pump the brakes. There is still a common myth that you need a 20% down payment to purchase a home. This means people who could buy a home may be putting their plans on hold because they don’t have that much saved yet.  

The reality is, whether you’re looking for your first home or you’ve purchased one before, you most likely don’t need to put 20% down.  

We recently spoke with Luke Stevenson from Amerifirst Home Mortgage to talk about some mortgage options if you are thinking about buying a home today.  

About Log Pond Realty  

We are a full-service real estate company servicing the Triangle region of North Carolina including Raleigh, Durham, Chapel Hill, Cary, Apex, Holly Springs, and Morrisville. We are based in Apex, NC. The Peak of Good Living. 

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