When purchasing a home there are many expenses involved. Down payment requirements are probably the most misunderstood. According to National Association of Realtors (NAR), In 2016 - 54% of new households over the past year were not owner occupied meaning the majority of homes sold, were sold as some type of investment. In addition, according to USA Today 69% of consumers fear not having enough cash for the down payment. All to often, we hear something and believe it is the absolute truth until other information is learned to dispel what we previously knew. NAR is reporting that 39% (almost 4 out of every 10 people) of non home owners believe a 20% down payment is required when purchasing a home and when you combine those thinking that it takes 15 or more to buy a home it increases to nearly 2/3 of all non home owners believing they will need over 15% for a down payment. In reality, the median down payment for first time buyers was 6% for the three straight years. If you are a qualifying veteran your benefits entitle you for a 0% down payment and many lenders have down payments available for 3.5% or lower for both FHA and Conventional loans.