You do not need 20% down to buy a home. FHA loans require 3.5% down, VA and USDA loans offer 0% down, and first-time buyer programs in every state provide down payment assistance. Compare the full cost — including property taxes, insurance, and the 1% maintenance rule — before deciding to buy or rent.
In This Guide:
This 2026 guide answers: "Why am I being charged so much after moving out of an apartment?" We break the answer into clear, actionable steps with real numbers, trusted government resources, and tips you can use tonight. Every recommendation links to authoritative sources like Healthcare.gov, IRS.gov, HUD.gov, the CFPB, and the FTC so you can verify every claim.
1. Calculate the True Cost of Homeownership
The sticker price is just the start. Property taxes average 1.1% of home value nationally but vary wildly — Texas averages 1.7%, Hawaii just 0.3%. Homeowners insurance runs $1,200–$2,500/year depending on location and coverage. Follow the 1% rule for maintenance: budget 1% of the home value per year for repairs ($4,000/year on a $400,000 home). HOA fees can add $200–$500/month. Closing costs run 2–5% of the loan amount. Use the CFPB mortgage toolkit to compare the full cost of ownership against rent.
For a deeper dive, see our guide: Which app is better for move-out photos and security deposit dispute help?.
- Get quotes from 3+ insurers — rates vary by 40%+ for the same coverage
- Budget for the "1% maintenance rule" from year one
2. Compare All Low-Down-Payment Loan Programs
You do not need 20% down to buy a house. FHA loans require just 3.5% down with a credit score of 580+ and the 2026 FHA loan limit for a single-family home is $524,225 in most areas. VA loans offer 0% down with no mortgage insurance for eligible veterans and active service members. USDA Rural Development loans also offer 0% down in eligible rural and suburban areas. Conventional loans with Fannie Mae HomeReady or Freddie Mac Home Possible require just 3% down for first-time buyers. Each program has different mortgage insurance rules that affect your monthly payment.
- Get pre-approved with at least 3 lenders to compare rates and fees
- Ask about first-time homebuyer programs in your state — many offer down payment assistance
3. Track Maintenance and Avoid Costly Surprises
Home and renters alike benefit from a maintenance log. For owners, deferred maintenance is the #1 cause of five-figure repair bills. Replace HVAC filters monthly ($5 vs a $6,000 compressor), service the water heater annually, and clean gutters each fall to prevent water damage. For renters, document every maintenance request in writing and keep a dated log — this protects your security deposit. Apps and simple spreadsheets track due dates for filter changes, pest control, and lease renewals. A $50 smoke detector and $30 water-leak sensor prevent catastrophic losses.
- Photograph the unit at move-in and move-out to protect your deposit
- Replace washer hoses with stainless steel braided lines — burst hoses cause $5k+ in damage
Trusted resources: CFPB Owning a Home, FTC consumer protection, HUD (Housing & Urban Development).
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