Down Payment on a $2,000,000 House

What is the down payment on a house that costs $2,000,000? Calculate the down payment for a $2 million home.
House Price
$
Percent Down
%
Results
20% down payment on a $2,000,000 home:
$400,000
Down Payment Needed for $2,000,000 House
% Down Down Payment
3.5%$70,000
5%$100,000
10%$200,000
15%$300,000
20%$400,000
25%$500,000
20% Down Payment By House Price
Price 20% Down
$2,000,000$400,000
$2,005,000$401,000
$2,010,000$402,000
$2,015,000$403,000
$2,020,000$404,000
$2,025,000$405,000
$2,030,000$406,000
$2,035,000$407,000
$2,040,000$408,000
$2,045,000$409,000
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 2,000,000 house, this would be $400,000.

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 2,000,000 loan, this could be as high as $2,500 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.