Do I need a 20% down payment to be able to buy a home?

No. There are many loan programs available, all with varied requirements. Some allow a buyer to purchase a home with zero dollars down but may have requirements about the property itself in order to meet loan specifications. Other loans offer 3%, 3.5%, 5%, 10% or 15% down. The reason so many buyers have that 20% in their head is because that's the magic number where the lender no longer requires you to pay PMI (private mortgage insurance) which is always the goal.

Meet the Expert

Whether representing the buyer or seller, Jeanna Callahan focuses on writing competitive offers and being a fierce negotiator, while working tirelessly on behalf of her clients. Callahan uses her network of professionals, understanding of current market values, knowledge of how various loan types function to help get her clients to the closing table. Callahan views her role in the process not as a sales person but rather a negotiator and problem solver.

Callahan has the following awards, accolades, and achievements:

Century 21 International Production Awards
• Top 3 Agents in Missouri – 2019  
• Top Agent in Springfield Metropolitan Area – 2019, 2017, 2013, 2012
• Diamond Award for Production – 2016-2020 
• Masters Award for Production – 2014 & 2015
• Emerald Award for Production – 2013
• Ruby Award for Production – 2012 

Century 21 Pinnacle Quality Service Award – 2012-2017 



Founder & President – Killuminati Foundation 2008 – Present


Women’s Council of Realtors Member – 2011 – Present


Springfield Professionals Leadership Team – 2011 – Present 

Most Influential Women, Springfield Business Journal – 2020 


Director of Education & Programs – 2018

President of Women's Council of Realtors of Southwest Missouri – 2017  


Featured in Be the Boss Magazine – 2011   


417 Magazine's Top 20 Under 30 – 2010 

Springfield Business Journal's Entrepreneur of the Year Honoree – 2009 

Callahan grew up in the northwest Chicago suburbs and moved to the Springfield area in 1999. She is a Missouri State University graduate and started her career as a recruiting director staffing a site achieving $100+ million in annual sales.

In 2008 she started Killuminati Foundation, a 501c3 nonprofit offering veterinary assistance to dogs and their families in Missouri. The organization also partners with rescue groups to promote adoption and the importance of spay/neuter.