Buyers >> Yes you can save for a down payment!! Is it necessary to have money for a Down Payment? Not in Tremonton, Utah. Would buyers get a better loan with a Down Payment? Absolutely yes. This is my No-Down Payment story. Yes I have walked a mile in those shoes too. When I purchased my first house many many moons ago I had saved up 20% to use as a down payment. My first home was purchased while I was still a single working woman earning $4.00 per hour (I know that would not feed a goldfish now days). The saving was a sacrifice that I (2 comments)