down-payment

Down Payment Guide: How Much You Need and How to Save It

Down Payment Guide: How Much You Need and How to Save It My first home had a 5% down payment. My second had 10%. My current home? 25%. Each time, I learned something new about how down payment size affects everything — not just your monthly payment, but your negotiating power, stress levels, and long-term wealth. The down payment is often the biggest barrier to homeownership. But here's what most guides won't tell you: the "right" down payment isn't always 20%. This guide explains when to put down less, when to wait for more, and how I'd approach it if I were buying today. Calculate Your Down Payment Impact See how your down payment affects your monthly payment: Try Our Mortgage Calculator(/finance/mortgage-calculator) What is a Down Payment? A down payment is the upfront cash you pay toward your home purchase. The rest is financed through your mortgage. According to the...