Ask the Economist: What Loan Options Exist for First-Time Home Buyers With Less Than 20% Down Payment?

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Your resource for all things Real Estate. Including Legal, Agent & Broker, and Property Rights Issues.
View All
- Get the Facts
  The facts and latest news on NAR's policy updates. For REALTORS®, MLSs, brokers, buyers, and sellers.
  Close
- Marketing
  MLS & Online Listings
  Social Media
  Sales Tips & Techniques
  View More
  Close
- Being a Real Estate Professional
  Being a Broker
  Starting Your Career
  Being an Agent
  View More
  Close
Close
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Whether you’re a new agent or an experienced broker you have access to a wide array of resources designed to help you succeed in today's market.
- All Membership Benefits
- NAR REALTOR Benefits®
  Bringing you savings and unique offers on products and services just for REALTORS®.
  Close
- Directories
  Complete listing of state and local associations, MLSs, members, and more.
  Close
- Dues Information & Payment
- Become a Member
  As a member, you are the voice for NAR – it is your association and it exists to help you succeed.
  Close
- Logos and Trademark Rules
  Only members of NAR can call themselves a REALTOR®. Learn how to properly use the logo and terms.
  Close
- Your Membership Account
  Review your membership preferences and Code of Ethics training status.
  Close
Close
Research & Statistics
Market Behavior
Including home buying and selling, commercial, international, NAR member information, and technology. Use the data to improve your business through knowledge of the latest trends and statistics.
- Highlights & News
  Get the latest top line research, news, and popular reports.
  Close
- Housing Statistics
  National, regional, and metro-market level housing statistics where data is available.
  Close
- Commercial Research
  Analysis of commercial market sectors and commercial-focused issues and trends.
  Close
- Research Reports
  Research on a wide range of topics of interest to real estate practitioners.
  Close
- Presentation Slides
  Access recent presentations from NAR economists and researchers.
  Close
- State & Metro Area Data
  Affordability, economic, and buyer & seller profile data for areas in which you live and work.
  Close
- Statistical News Release Schedule
Close
Advocacy
Representing Your Industry
NAR is widely considered one of the most effective advocacy organizations in the country.
- Advocacy Issues & News
- Federal Advocacy
  From its building located steps away from the U.S. Capitol, NAR advocates for you.
  Close
- REALTORS® Political Action Committee (RPAC)
  Promoting the election of pro-REALTOR® candidates across the United States.
  Close
- State & Local Advocacy
  Resources to foster and harness the grassroots strength of the REALTOR® Party.
  Close
- Advocacy Impact
  Highlighting work to expand housing access and defend property rights.
  Close
- REALTOR® Party
  A powerful alliance working to protect and promote homeownership and property investment.
  Close
- Get Involved
  Now more than ever, it is critical for REALTORS® across America to come together and speak with one voice.
  Close
Close
Education
Advancing Your Career
NAR and its affiliated Institutes, Societies, and Councils offer a wide selection of real estate training options.
- All Education & Professional Development
- Code of Ethics Training
  Fulfill your COE training requirement with free courses for new and existing members.
  Close
- Fair Housing Training
  REALTORS® are required to complete Fair Housing every three years, coinciding with COE training.
  Close
- Real Estate Designations and Certifications
  Increase your skills, proficiency, and knowledge to help boost your salary and client base.
  Close
- Continuing Education (CE)
  Meet the continuing education (CE) requirement in state(s) where you hold a license.
  Close
- Online Real Estate Courses
  Explore certificate courses, leadership and business tools, and affiliate offerings.
  Close
- Library & Archives
  Offering research services and thousands of print and digital resources.
  Close
Close
News & Events
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Stay current on industry issues with daily news from NAR. Network with other professionals, attend a seminar, and keep up with industry trends through events hosted by NAR.
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About NAR
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The National Association of REALTORS® is an American trade association involved in all aspects of residential and commercial real estate.
- Mission, Vision, Culture & Impact
- Code of Ethics
- Leadership & Staff
  National, state & local leadership, staff directories, leadership opportunities, and more.
  Close
- Committee & Liaisons
- History
  Founded as the National Association of Real Estate Exchanges in 1908.
  Close
- Affiliated Organizations
- 2026-2028 NAR Strategic Plan
  Serving REALTORS® better and strengthening the association for long-term success.
  Close
- Policies
- Governing Documents
  Code of Ethics, NAR's Constitution & Bylaws, and model bylaws for state & local associations.
  Close
- Awards & Grants
  Member recognition and special funding, including the REALTORS® Relief Foundation.
  Close
- NAR's Consumer Outreach
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Loan Options for First-Time Buyers With Less Than 20% Down

Buying your first home without a 20% down payment? NAR Deputy Chief Economist Dr. Jessica Lautz breaks down the loan options available and what first-time buyers should know.

Ask the Economist: What Loan Options Exist for First-Time Home Buyers With Less Than 20% Down Payment?

April 7, 2026

Economists' Outlook

Ask the Economist: What Loan Options Exist for First-Time Home Buyers With Less Than 20% Down Payment?

Ask the Economist: What Loan Options Exist for First-Time Home Buyers With Less Than 20% Down Payment?