# Down Payment on a \$1,150,000 House

What is the down payment on a house that costs \$1,150,000? Calculate the down payment for a \$1.15 million home.
House Price
\$
Percent Down
%
Results
20% down payment on a \$1,150,000 home:
\$230,000
Down Payment Needed for \$1,150,000 House
% Down Down Payment
3.5%\$40,250
5%\$57,500
10%\$115,000
15%\$172,500
20%\$230,000
25%\$287,500
20% Down Payment By House Price
Price 20% Down
\$1,150,000\$230,000
\$1,155,000\$231,000
\$1,160,000\$232,000
\$1,165,000\$233,000
\$1,170,000\$234,000
\$1,175,000\$235,000
\$1,180,000\$236,000
\$1,185,000\$237,000
\$1,190,000\$238,000
\$1,195,000\$239,000
FHA Loans

FHA loans are loans issued by a bank, but backed by the federal government. They are intended for people can not qualify for a typical bank loan.

As of 2023, FHA loans are only available for loans less than \$1,089,300.

Conventional Loans

Conventional loans are those offered by a bank which might have a variety of terms and rates depending on the amount down and factors such as credit score, debt, and income.

For conventional loans, it is standard to make a down payment of 20%. For a 1,150,000 house, this would be \$230,000.

However, some loans offer down payments as low as 3% to buyers with excellent credit, high income, and large assets.

Private Mortgage Insurance (PMI)

Buyers who can't put at least 20% down are often required to pay PMI. For a 1,150,000 loan, this could be as high as \$1,438 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.