According to the National Association of Realtors, the existing home price in September 2021 was $352,800, which seems to be gearing up even higher due to a hot housing market and low inventory across the country.

Our experts at Bankrate created a guide on how much home buyers really need in order to stop renting and start building equity in a home. It also includes the pros and cons of putting down 20% down payment and tips on how to build up down payment funds.

Let’s take a look at how much you really need in order to stop renting and start building equity in a home.

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