Whether you’re a first-time homebuyer or looking to make a move, understanding how down payments work is essential to achieving good financial health with homeownership. You likely have heard that you must have 20% down to purchase a home, but the truth is that standard down payment amounts usually range from 3% to 20% of the home’s purchase price. In this video, we will break down down payment options and loans so you can understand how much you really need for your mortgage journey.