3 Reasons Not to Buy a House Until You Have a 20% Down Payment

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Many lenders make it easy to qualify for a mortgage to purchase a home even with a small down payment. But just because you can buy a home without putting much money down doesn’t mean it’s a good idea. In fact, the traditional recommendation is to put 20% down on your home. Following this old rule of thumb and waiting to buy until you’ve saved a full 20% of your home’s price is often the best approach. 

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