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Down Payment For a $1M House
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What is the down payment on $1M house? - The down payment is $200,000 for a $1M house with 20% down and a mortgage of $800,000.
Minimum Down Payment For $1M Homes
There are minimum down payment requirements for different types of mortgages. The following shows the minimum down payments for $1,000,000 house. 0% Down Payment Mortgage - Qualified homebuyers for VA loans are not required to put any money in the down payment. 0% down on $1,000,000 = $0 3% Down Payment Mortgage - Some conventional mortgages have a minimum down payment of as low as 3% for customers with excellent credit scores. 3% down on $1,000,000 = $30,000
3.5% Down Payment Mortgage - FHA home loans require a minimum down payment of 3.% for homebuyers with credit scores of 580 or higher. 3.5% down on $1,000,000 = $35,000 10% Down Payment Mortgage - Many conventional mortgages require homebuyers to make at least a 10% down payment. FHA loans required a 10% down payment from borrowers with a credit score lower than 580. 10% down on $1,000,000 = $100,000 20% Down Payment Mortgage - Traditional mortgages require the homebuyer to pay for private mortgage insurance (PMI) if their down payment is less than 20%. PMI payments will only be removed after the homebuyers have at least 20% equity in their homes. To avoid paying for PMI altogether, put down 20% or more as your down payment. 20% down on $1,000,000 = $200,000
| Percent Down | Down Payment | Mortgage Amount |
|---|---|---|
| 0% down on $1M house | $0 | $1,000,000 |
| 0.5% down on $1M house | $5,000 | $995,000 |
| 1% down on $1M house | $10,000 | $990,000 |
| 1.5% down on $1M house | $15,000 | $985,000 |
| 2% down on $1M house | $20,000 | $980,000 |
| 2.5% down on $1M house | $25,000 | $975,000 |
| 3% down on $1M house | $30,000 | $970,000 |
| 3.5% down on $1M house | $35,000 | $965,000 |
| 4% down on $1M house | $40,000 | $960,000 |
| 4.5% down on $1M house | $45,000 | $955,000 |
| 5% down on $1M house | $50,000 | $950,000 |
| 5.5% down on $1M house | $55,000 | $945,000 |
| 6% down on $1M house | $60,000 | $940,000 |
| 6.5% down on $1M house | $65,000 | $935,000 |
| 7% down on $1M house | $70,000 | $930,000 |
| 7.5% down on $1M house | $75,000 | $925,000 |
| 8% down on $1M house | $80,000 | $920,000 |
| 8.5% down on $1M house | $85,000 | $915,000 |
| 9% down on $1M house | $90,000 | $910,000 |
| 9.5% down on $1M house | $95,000 | $905,000 |
| 10% down on $1M house | $100,000 | $900,000 |
| 10.5% down on $1M house | $105,000 | $895,000 |
| 11% down on $1M house | $110,000 | $890,000 |
| 11.5% down on $1M house | $115,000 | $885,000 |
| 12% down on $1M house | $120,000 | $880,000 |
| 12.5% down on $1M house | $125,000 | $875,000 |
| 13% down on $1M house | $130,000 | $870,000 |
| 13.5% down on $1M house | $135,000 | $865,000 |
| 14% down on $1M house | $140,000 | $860,000 |
| 14.5% down on $1M house | $145,000 | $855,000 |
| 15% down on $1M house | $150,000 | $850,000 |
| 15.5% down on $1M house | $155,000 | $845,000 |
| 16% down on $1M house | $160,000 | $840,000 |
| 16.5% down on $1M house | $165,000 | $835,000 |
| 17% down on $1M house | $170,000 | $830,000 |
| 17.5% down on $1M house | $175,000 | $825,000 |
| 18% down on $1M house | $180,000 | $820,000 |
| 18.5% down on $1M house | $185,000 | $815,000 |
| 19% down on $1M house | $190,000 | $810,000 |
| 19.5% down on $1M house | $195,000 | $805,000 |
| 20% down on $1M house | $200,000 | $800,000 |
| 25% down on $1M house | $250,000 | $750,000 |
| 30% down on $1M house | $300,000 | $700,000 |
| 35% down on $1M house | $350,000 | $650,000 |
| 40% down on $1M house | $400,000 | $600,000 |
| 45% down on $1M house | $450,000 | $550,000 |
| 50% down on $1M house | $500,000 | $500,000 |
| 55% down on $1M house | $550,000 | $450,000 |
| 60% down on $1M house | $600,000 | $400,000 |
| 65% down on $1M house | $650,000 | $350,000 |
| 70% down on $1M house | $700,000 | $300,000 |
| 75% down on $1M house | $750,000 | $250,000 |
| 80% down on $1M house | $800,000 | $200,000 |
| 85% down on $1M house | $850,000 | $150,000 |
| 90% down on $1M house | $900,000 | $100,000 |
| 95% down on $1M house | $950,000 | $50,000 |
| 100% down on $1M house | $1,000,000 | $0 |
down payment on 1.1 million house
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