Jay QuigleyReal Estate Broker Associate, Florida Executive Realty · Tampa Bay REALTOR® & Real Estate Instructor | Helping Buyers, Sellers, Seniors, Military Relocation, Divorce and Probate Clients Make Confident Moves | Believer | Husband

Myth or Truth: You Need A 20% Down Payment to Buy in Tampa

5 May 2026 · 1 min

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0:57

In this brief video, Jay Quigley addresses a common misconception that homebuyers must provide a 20% down payment to purchase a home in Tampa. He cites data showing that first‑time buyers typically put down about 10%, and highlights that many loan programs allow as little as 3.5% or even zero down for qualified borrowers. Quigley emphasizes that misunderstanding the required down payment can delay a buyer’s timeline, and he advises viewers to consult a trusted lender to learn their specific options and then create a home‑search plan.

Chapters

Not sure how much you need for your down payment? You're not the only one. Online searches for down payment information just hit an all-time high, and that tells me buyers don't know what's actually required and they're searching for answers. But here's what's interesting. A lot of people think they need to put 20% down, even though that's not actually the case. Data shows that the typical first-time buyer only puts down 10%. That's half as much as what most buyers think they need. And here's the part that can really change your timeline. Some loan options let you buy with as little as 3.5% or even no down payment at all for qualified buyers. But many buyers don't realize this, so they end up waiting longer than they need to. Want to know what's possible for you? Start by talking with a trusted lender to understand what your options and what you qualify for. Then let's build a plan for your home search.