Down Payment on a $1,700,000 House

What is the down payment on a house that costs $1,700,000? Calculate the down payment for a $1.7 million home.
House Price
$
Percent Down
%
Results
20% down payment on a $1,700,000 home:
$340,000
Down Payment Needed for $1,700,000 House
% Down Down Payment
3.5%$59,500
5%$85,000
10%$170,000
15%$255,000
20%$340,000
25%$425,000
20% Down Payment By House Price
Price 20% Down
$1,700,000$340,000
$1,705,000$341,000
$1,710,000$342,000
$1,715,000$343,000
$1,720,000$344,000
$1,725,000$345,000
$1,730,000$346,000
$1,735,000$347,000
$1,740,000$348,000
$1,745,000$349,000
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 1,700,000 house, this would be $340,000.

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 1,700,000 loan, this could be as high as $2,125 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.