How Much Do You Really Need for a Down Payment?

One of the biggest misconceptions first-time buyers have is that they need 20% down to buy a home. In reality, many buyers in Shawnee and Lenexa purchase with far less—and still make smart, stable investments.

Common Down Payment Options

Depending on loan type, buyers may need:

• As little as 3–5% down

• Access to first-time buyer programs

• Flexible options based on credit and income

The “right” amount depends on your goals and comfort level.

More Than Just the Down Payment

Buyers should also plan for:

• Closing costs

• Inspections and appraisals

• Initial maintenance or updates

Understanding the full picture helps buyers avoid stretching too far.

Putting Less Down Isn’t a Failure

For many first-time buyers, keeping cash on hand after closing provides peace of mind. The goal is sustainable homeownership—not draining savings to hit a number.

Clarity Builds Confidence

A conversation with a lender and a clear plan removes uncertainty and helps buyers move forward confidently.