Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “80% of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 %.” Myth #1: “I Need a 20% Down Payment” Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report: "Consumers are often unaware of the option to take out low-down-payment mor