Should I put 20% down on a house?
Put 20% down if you can — it eliminates PMI, qualifies you for the best rates, and lowers your loan balance. But don't drain your emergency fund to do it. Putting 5-10% down with PMI and keeping cash reserves is often the safer move for first-time buyers.
More context
Put 20% down if you can — it eliminates PMI, qualifies you for the best rates, and lowers your loan balance. But don't drain your emergency fund to do it. Putting 5-10% down with PMI and keeping cash reserves is often the safer move for first-time buyers. The exact answer depends on your specific situation — the numbers above are a strong starting point, but the right next step is to plug in your actual figures.
For a deeper analysis, use one of the related tools below — they take your specific income, debt, location, and goals as inputs and produce a tailored answer.