Down Payment on a $180,000 House

What is the down payment on a house that costs $180,000? Calculate the down payment for a $180k home.
House Price
$
Percent Down
%
Results
20% down payment on a $180,000 home:
$36,000
Down Payment Needed for $180,000 House
% Down Down Payment
3.5%$6,300
5%$9,000
10%$18,000
15%$27,000
20%$36,000
25%$45,000
20% Down Payment By House Price
Price 20% Down
$180,000$36,000
$180,500$36,100
$181,000$36,200
$181,500$36,300
$182,000$36,400
$182,500$36,500
$183,000$36,600
$183,500$36,700
$184,000$36,800
$184,500$36,900
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 $180,000 house or condo, this would be $6,300.

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 $180,000 house, this would be $18,000.

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 180,000 house, this would be $36,000.

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 180,000 loan, this could be as high as $225 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.