Down Payment on a $2,650,000 House
| % Down | Down Payment |
|---|---|
| 3.5% | $92,750 |
| 5% | $132,500 |
| 10% | $265,000 |
| 15% | $397,500 |
| 20% | $530,000 |
| 25% | $662,500 |
| Price | 20% Down |
|---|---|
| $2,650,000 | $530,000 |
| $2,655,000 | $531,000 |
| $2,660,000 | $532,000 |
| $2,665,000 | $533,000 |
| $2,670,000 | $534,000 |
| $2,675,000 | $535,000 |
| $2,680,000 | $536,000 |
| $2,685,000 | $537,000 |
| $2,690,000 | $538,000 |
| $2,695,000 | $539,000 |
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 2,650,000 house, this would be $530,000.
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 2,650,000 loan, this could be as high as $3,313 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.