Answers by Shelley Propernick

You’re not wrong to feel stuck—waiting for 20% while prices rise can feel like chasing a moving target. The key thing to understand is that 20% is a guideline, not a requirement, and in many cases it’s not even the optimal move. Here’s how to think about it in a practical way: 1. What 20% actually does (and doesn’t do) Putting 20% down mainly helps you: Avoid Private Mortgage Insurance (PMI) Lower your monthly payment slightly Start with more equity But it doesn’t magically make the home more “affordable” in terms of whether you can handle the payment. Let me know if you need more help.

Yes it is possible to close this early depending on your situation and escrow company and if all parties agree.