Down Payment on a $1,900,000 House
| % Down | Down Payment |
|---|---|
| 3.5% | $66,500 |
| 5% | $95,000 |
| 10% | $190,000 |
| 15% | $285,000 |
| 20% | $380,000 |
| 25% | $475,000 |
| Price | 20% Down |
|---|---|
| $1,900,000 | $380,000 |
| $1,905,000 | $381,000 |
| $1,910,000 | $382,000 |
| $1,915,000 | $383,000 |
| $1,920,000 | $384,000 |
| $1,925,000 | $385,000 |
| $1,930,000 | $386,000 |
| $1,935,000 | $387,000 |
| $1,940,000 | $388,000 |
| $1,945,000 | $389,000 |
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 1,900,000 house, this would be $380,000.
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 1,900,000 loan, this could be as high as $2,375 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.