Latest / The Living Elevated Show: Smart Moves, Bilingual Voices
The Truth About Down Payments
This podcast episode, inspired by a blog by Alex Parmenidez, addresses common misconceptions surrounding home down payments, particularly for first-time buyers. The host debunks the myth that a substantial down payment, such as 10% or 20%, is always necessary, highlighting that many first-time buyers put down less and that FHA or VA loans can require as little as 3.5% or even no down payment. The discussion also challenges the idea that saving for a down payment takes an extremely long time, suggesting that a strategic savings plan can accelerate the process.
The skinny
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