You Don’t Need 20% Down — The Truth About Buying a Home in Brooklyn

Buyers Peter Mancini August 3, 2025

One of the most persistent myths in real estate — especially here in Brooklyn — is the idea that you need 20% down to buy a home.

Let me be clear: that’s simply not true.

While putting 20% down can help you avoid private mortgage insurance (PMI), it’s not a requirement to buy a home. According to a recent report from The Wall Street Journal, many buyers today are getting into homes with as little as 3% down — and some are even leveraging programs to go lower than that.

🚪 Unlocking Opportunity with Less Upfront

Today’s buyers have access to a variety of tools that make homeownership more accessible:

First-time buyer grants
Employer-sponsored housing benefits
Flexible loan programs backed by Fannie Mae and Freddie Mac
Down payment assistance programs specific to NYC and New York State

If you've been waiting to save 20% — you may be holding yourself back for no reason.

🤝 A Strategy That Fits You

At Pen Realty, we don’t take a one-size-fits-all approach. When you work with me, I’ll connect you to trusted lenders who understand the Brooklyn market and can help you explore all your financing options — even the ones most people don’t know about.

We’ll build a strategy that reflects your goals, budget, and timeline — not someone else’s outdated advice.

💬 Still Not Sure Where to Start?

Schedule a free buyer strategy call and let’s talk through your options:
👉 penrealty.net

💜 A Cause Close to My Heart

If you found this helpful, please consider supporting CaringKind NYC, a local leader in dementia and Alzheimer’s care:
👉 penrealty.net/donate-to-caring-kind-ny

Together, we can move you closer to homeownership — and do some good along the way.

—

Peter Mancini
Licensed Real Estate Broker
Pen Realty | Brooklyn, NY
A Signature Experience