Down Payment on a $410,000 House

What is the down payment on a house that costs $410,000? Calculate the down payment for a $410k home.
House Price
$
Percent Down
%
Results
20% down payment on a $410,000 home:
$82,000
Down Payment Needed for $410,000 House
% Down Down Payment
3.5%$14,350
5%$20,500
10%$41,000
15%$61,500
20%$82,000
25%$102,500
20% Down Payment By House Price
Price 20% Down
$410,000$82,000
$410,500$82,100
$411,000$82,200
$411,500$82,300
$412,000$82,400
$412,500$82,500
$413,000$82,600
$413,500$82,700
$414,000$82,800
$414,500$82,900
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.

Minimum Down Payment

The minimum down payment on an FHA loans is 3.5%. For a $410,000 house or condo, this would be $14,350.

To qualify for a 3.5% down payment, you must have a credit score of at least 580.

10% Down Payment

Buyers with a credit score of 500 or higher are eligible for an FHA loan with a down payment as low as 10%.

For a $410,000 house, this would be $41,000.

Mortgage Insurance

All FHA loans require "mortgage insurance", which protects the FHA from people who default on their loan. This requires an upfront payment of 1.75% of the loan, as well as additional monthly payments.

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 410,000 house, this would be $82,000.

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 410,000 loan, this could be as high as $513 a month. Over time, if the buyer builds up equity in the house, PMI will no longer be required.