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

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We’ll build a strategy that reflects your goals, budget, and timeline — not someone else’s outdated advice.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