Down Payment on a $1,450,000 House
| % Down | Down Payment |
|---|---|
| 3.5% | $50,750 |
| 5% | $72,500 |
| 10% | $145,000 |
| 15% | $217,500 |
| 20% | $290,000 |
| 25% | $362,500 |
| Price | 20% Down |
|---|---|
| $1,450,000 | $290,000 |
| $1,455,000 | $291,000 |
| $1,460,000 | $292,000 |
| $1,465,000 | $293,000 |
| $1,470,000 | $294,000 |
| $1,475,000 | $295,000 |
| $1,480,000 | $296,000 |
| $1,485,000 | $297,000 |
| $1,490,000 | $298,000 |
| $1,495,000 | $299,000 |
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 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 1,450,000 house, this would be $290,000.
However, some loans offer down payments as low as 3% to buyers with excellent credit, high income, and large assets.
Buyers who can't put at least 20% down are often required to pay PMI. For a 1,450,000 loan, this could be as high as $1,813 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.