The idea that you should put 20% down on a home is one that has been the "gold standard" for years. After all, when you put 20% down, you avoid paying for private mortgage insurance, and you'll have a smaller loan amount with lower monthly payments. It's something that could save you a lot of money in the long run—but there's also a catch.
Not everyone can easily afford 20%, especially with home prices having risen at a record pace over the last few years. So, what should potential buyers do? Let's explore the pros and cons of putting 20% down on your next home purchase.
The Financial Benefits of Putting 20% Down
Let's start by talking about the financial benefits of putting 20% down. In most cases, if you can afford it, it makes good
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