Think You Can’t Afford a Down Payment? Think Again.

Down payments, decoded for real buyers. If you have been told you need 20% down, take a breath. Most first-time buyers put far less down, and many qualify for programs that fill the gap. This guide breaks the myths, shows realistic options for Summit County and Breckenridge buyers, and helps you map a clean path from saving to keys in hand. As Kim Obert, an AI‑certified real estate expert and the only AI‑Certified Agent in Summit County, I pair smart data with proven local experience to help you buy with clarity or sell for maximum exposure. Read on to start confident and finish strong.

Buying a home is exciting—until you start thinking about the down payment.

That’s usually when the worries kick in:

“I’ll never save enough.”
“I need a huge pile of cash just to start.”
“Guess I’m stuck renting forever.”

If that sounds familiar, you’re not alone. And here’s the good news—you might already be closer to homeownership than you think.

Let’s bust a few common myths that could be holding you back.

Myth #1: You Need a Huge Down Payment

Most people think they need to put 10%, 15%, or even 20% down. A recent survey found 70% of Americans believe at least 10% is required, and 11% aren’t sure at all.

Here’s the truth:

• First-time buyers typically put down 6% to 9%.

• FHA loans can be as low as 3.5% down.

• VA loans often require zero down.

So no—you don’t necessarily need a massive savings account to get started.

Myth #2: It’ll Take Forever to Save

Saving for a down payment can take time, but it’s rarely the endless climb people imagine. In fact, depending on where you live (yes, even here in Colorado), you may be able to reach your goal faster than you think—especially when you know your true target number.

And remember, you might not need to save the full 10% or 20% at all.

Myth #3: You Have to Do It All Yourself

This one might surprise you—there are thousands of down payment assistance programs designed to help buyers just like you.

The same survey found that 39% of Americans don’t even know these programs exist. That’s a lot of people missing out on free help.

These programs can come from state agencies, local nonprofits, and even your lender. They can cover part (or sometimes all) of your down payment, making homeownership far more attainable.

The Bottom Line

If the down payment is the only thing standing between you and a set of house keys, it’s time to look at your options. You may not need as much as you think—and you don’t have to figure it out alone.

Are you planning to sell or buy a home?
I’m one of the few A.I. Certified Agents in the world—and the only one in Summit County. That means I use cutting-edge marketing strategies traditional agents don’t even know exist.

Call/Text: +1 970-390-3711
Email: kim@kimobert.com
Website: kimobert.com

Kim Obert
Your AI-Certified Realtor | Breckenridge, CO | Summit County, CO