Is a new home on your goals for 2025 but need to save for a down payment? Think again!

Many people believe buying a home requires saving up to 20% down payment—but this is one of the most common misconceptions in real estate. The truth is, most buyers, especially first-time buyers, put down much less.

Here's what the numbers show:

• First-time homebuyers typically put down just 9% of the purchase price.
• All homebuyers on average put down 18%, and some loan programs allow for even less.
• In fact, there are financing options that require as little as 3.5% or even 0% down, making it easier to achieve your goal of owning a home.

Programs That Can Help You Save

If saving for a down payment feels overwhelming, you’re not alone. Fortunately, there are over 2,400 down payment assistance programs available across the country in 2024—an increase from 2,256 programs in 2023.

These programs can provide an average benefit of $17,000, giving your savings a significant boost. To find programs, visit Down Payment Resource, a helpful tool for discovering assistance opportunities and the Nevada Housing Division's Home is Possible, a program with benefits that help homebuyers purchase homes.

Evergreen Home Loans Can Help

Navigating your financing options can feel daunting, but that’s where Evergreen Home Loans comes in. As my trusted lending partner, they specialize in helping buyers like yourself find tailored solutions to make homeownership a reality. Whether you’re purchasing your first home or upgrading to your dream home, Evergreen Home Loans offers personalized support to help you every step of the way.

Why You Don't Need to Wait?

Waiting to save a larger down payment might not be the best strategy. Home prices and interest rates can fluctuate, meaning that delaying your purchase could cost you more in the long run. With a smaller down payment and the right assistance, you can begin building equity and enjoying the benefits of owning a home sooner.

Don’t let myths about down payments hold you back. Feel free to reach out and I can help you explore your options and take the first step toward homeownership.