Down Payment on a $140,000 House

What is the down payment on a house that costs $140,000? Calculate the down payment for a $140k home.
House Price
$
Percent Down
%
Results
20% down payment on a $140,000 home:
$28,000
Down Payment Needed for $140,000 House
% Down Down Payment
3.5%$4,900
5%$7,000
10%$14,000
15%$21,000
20%$28,000
25%$35,000
20% Down Payment By House Price
Price 20% Down
$140,000$28,000
$140,500$28,100
$141,000$28,200
$141,500$28,300
$142,000$28,400
$142,500$28,500
$143,000$28,600
$143,500$28,700
$144,000$28,800
$144,500$28,900
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.

Minimum Down Payment

The minimum down payment on an FHA loans is 3.5%. For a $140,000 house or condo, this would be $4,900.

To qualify for a 3.5% down payment, you must have a credit score of at least 580.

10% Down Payment

Buyers with a credit score of 500 or higher are eligible for an FHA loan with a down payment as low as 10%.

For a $140,000 house, this would be $14,000.

Mortgage Insurance

All FHA loans require "mortgage insurance", which protects the FHA from people who default on their loan. This requires an upfront payment of 1.75% of the loan, as well as additional monthly payments.

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 140,000 house, this would be $28,000.

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 140,000 loan, this could be as high as $175 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.