There’s really no magic number when it comes to down payments. Some conventional loans require as little as 3% down, but you can pay up to 20% or more to avoid paying private mortgage insurance (PMI). Ultimately, how much you put down should depend on your unique situation. Consider your holistic picture, including savings, income, and other debts or financial priorities.
Go high: Perks of a higher down payment
Or go low: Perks of a smaller down payment
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With the Truist Online Savings Account, you can save for emergencies and other life goals—like a bigger down payment on your next home.
Start with $50. Or $10. Or even just $5. There’s no minimum deposit required to start your account.Disclosure 1
Wherever life’s next chapter takes you, you can easily access your savings online or through the app.
Because it shouldn’t cost a lot when you’re trying to save money.
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