What is the minimum down payment for a $500k house?

Your minimum down payment needed for a $500K house with a conforming loan can be $15,000. FHA loans are partly guaranteed by the Federal Housing Administration (FHA). Expect: However, high mortgage insurance premiums can make them more costly overall. Worse, you’ll have to pay private mortgage insurance for the lifetime of your home loan.

How much is a down payment on a 250,000 home?

For a $250,000 home, a down payment of 3% is $7,500 and a down payment of 20% is $50,000. The total of your monthly debt payments divided by your gross monthly income, which is shown as a percentage. Your DTI is one way lenders measure your ability to manage monthly payments and repay the money you plan to borrow.

How much down payment do you need to buy a house?

It’s usually expressed as a percentage of the purchase price. So, if your mortgage requires that you put down, say, 3%, the down payment needed for a $500K house would be $500,000 x 3% = $15,000. And a 20% down payment would require $100,000 ($500,000 x 20% = $100,000). You may be able to do those calculations in your head or using a calculator.