The traditional 20% is ideal as it avoids Private Mortgage Insurance (PMI), but there are programs available that allow for lower down payments if this isn’t feasible.
If you’re planning on buying your first house in 2024, you should be aware that home prices are higher than they were a few years ago. Because of this, you may have to save for a significant down payment. The traditional 20% is ideal as it avoids Private Mortgage Insurance (PMI), but there are programs available that allow for lower down payments if this isn’t feasible.