Pros and Cons of a 20% Down Payment You may have been told to put down 20% on a new home, but did you know that’s not a requirement? Lenders approve loans with much smaller down payments. Putting 20% down does have benefits, but it also has downsides and risks. Today, we’re taking you through the pros and cons of a 20% down payment. PRO: Lower Monthly Payment Making a substantial down payment will...