Down Payment on a $1,750,000 House
| % Down | Down Payment |
|---|---|
| 3.5% | $61,250 |
| 5% | $87,500 |
| 10% | $175,000 |
| 15% | $262,500 |
| 20% | $350,000 |
| 25% | $437,500 |
| Price | 20% Down |
|---|---|
| $1,750,000 | $350,000 |
| $1,755,000 | $351,000 |
| $1,760,000 | $352,000 |
| $1,765,000 | $353,000 |
| $1,770,000 | $354,000 |
| $1,775,000 | $355,000 |
| $1,780,000 | $356,000 |
| $1,785,000 | $357,000 |
| $1,790,000 | $358,000 |
| $1,795,000 | $359,000 |
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 1,750,000 house, this would be $350,000.
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 1,750,000 loan, this could be as high as $2,188 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.