: While 20% down avoids private mortgage insurance (PMI), you can buy with as little as 3% on some conventional loans or 3.5% for FHA loans. Don't forget closing costs , which typically run 2% to 5% of the purchase price.
: You should still have 3 to 6 months of essential expenses saved after your down payment to cover unexpected repairs like a broken water heater. 2. The Personal & Lifestyle "Fit" how do i know if i should buy a house
Lenders look for specific indicators to ensure you can handle a 30-year commitment. : While 20% down avoids private mortgage insurance