Is it better to put 20 percent down?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
It depends. Twenty percent down avoids PMI and reduces your payment and total interest, but it ties up cash and can delay your purchase. Many buyers do better putting less down and keeping reserves.
If home values are rising and you have a productive use for the cash, a smaller down payment often wins. We'll run both scenarios so the choice is based on numbers, not rules of thumb.
The upside of 20%
Twenty percent down has real perks. On a conventional loan it removes private mortgage insurance, which lowers your monthly payment. It also shrinks the loan balance, so you pay less interest over the life of the loan.
A larger down payment can make your offer look stronger to a seller too, especially in a competitive Florida market where multiple bids are common.
When less is smarter
Twenty percent is not always the winning move. If saving that much drains your safety net, a smaller down payment plus a healthy emergency fund protects you better. Home repairs and job gaps do not wait.
Low-down loans also let you buy sooner and start building equity now. We will run both paths for you. Reach out and we will show the real cost difference side by side.