Down Payment on a $2,500,000 House
% Down | Down Payment |
---|---|
3.5% | $87,500 |
5% | $125,000 |
10% | $250,000 |
15% | $375,000 |
20% | $500,000 |
25% | $625,000 |
Price | 20% Down |
---|---|
$2,500,000 | $500,000 |
$2,505,000 | $501,000 |
$2,510,000 | $502,000 |
$2,515,000 | $503,000 |
$2,520,000 | $504,000 |
$2,525,000 | $505,000 |
$2,530,000 | $506,000 |
$2,535,000 | $507,000 |
$2,540,000 | $508,000 |
$2,545,000 | $509,000 |
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 2,500,000 house, this would be $500,000.
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 2,500,000 loan, this could be as high as $3,125 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.