Buy Your Hercules Home with as Little as 3.5% Down, No 20% Needed
One of the biggest homebuying myths I hear? “I need 20% down.” You don’t. Depending on the loan program and your qualifications, you may be able to purchase with: • 0% down with an eligible VA or USDA loan • 3% down with certain conventional loan programs • 3.5% down with FHA financing • Down payment assistance that may help cover some of your upfront costs So why does everyone talk about 20%? Putting 20% down can have advantages, including avoiding private mortgage insurance on many conventional loans. But it is **not** a universal requirement for homeownership. And in the Bay Area, waiting until you’ve saved 20% can mean trying to accumulate well over $100,000 before you even start looking. Instead of assuming you can’t afford to buy, start by figuring out what financing options you actually qualify for. The question isn’t always, “Do I have 20%?” It’s “What would it actually take for me to buy?” That number may be very different than you think. Evangeline Nguyen, REALTOR® eXp Realty CA DRE #02210833 Serving San Francisco, San Jose, East Bay, Fairfield & Monterey
September 29, 2026