Down Payment on a $2,250,000 House
| % Down | Down Payment |
|---|---|
| 3.5% | $78,750 |
| 5% | $112,500 |
| 10% | $225,000 |
| 15% | $337,500 |
| 20% | $450,000 |
| 25% | $562,500 |
| Price | 20% Down |
|---|---|
| $2,250,000 | $450,000 |
| $2,255,000 | $451,000 |
| $2,260,000 | $452,000 |
| $2,265,000 | $453,000 |
| $2,270,000 | $454,000 |
| $2,275,000 | $455,000 |
| $2,280,000 | $456,000 |
| $2,285,000 | $457,000 |
| $2,290,000 | $458,000 |
| $2,295,000 | $459,000 |
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 2,250,000 house, this would be $450,000.
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 2,250,000 loan, this could be as high as $2,813 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.