Down Payment Calculator · Practical guide
How Much Down Payment for a $400K House?
From the $12,000 minimum to the $80,000 PMI-free target — see what each level does to your payment.
At a glance
The Dollar Amounts
On a $400,000 home, the common down payment tiers are 3% = $12,000, 5% = $20,000, 10% = $40,000, and 20% = $80,000. Most conventional loans accept 3-5% down, but anything under 20% adds private mortgage insurance (PMI) to the monthly bill.
Interactive tool
Down Payment Calculator
Enter your own values, then compare the result with the examples below.
What Each Level Costs Monthly
Assuming a 30-year fixed mortgage at 6.5%, here is how the tiers compare — matching what the calculator above computes, including its PMI estimate of 0.5% of the loan per year:
| Down Payment | Loan Amount | Monthly P&I | Est. PMI | Total Monthly |
|---|---|---|---|---|
| $12,000 (3%) | $388,000 | $2,452.42 | $161.67 | $2,614.09 |
| $20,000 (5%) | $380,000 | $2,401.86 | $158.33 | $2,560.19 |
| $40,000 (10%) | $360,000 | $2,275.44 | $150.00 | $2,425.44 |
| $80,000 (20%) | $320,000 | $2,022.62 | None | $2,022.62 |
The Long-Term Cost of a Smaller Down Payment
Choosing 5% down instead of 20% raises the monthly cost by about $537 and, because you borrow $60,000 more, adds roughly $76,527 in interest over 30 years — before counting years of PMI. PMI on the $380,000 loan runs about $1,900 per year until your balance falls to 78-80% of the home's value.
Do Not Empty Your Savings
Whatever tier you pick, keep a separate cushion: closing costs typically run 2-5% of the price ($8,000-$20,000 on a $400K home), plus an emergency fund for repairs. Putting every last dollar into the down payment to reach 20% can leave you house-rich and cash-poor.
Frequently Asked Questions
What is the minimum down payment on a $400K house?
Conventional loans can go as low as 3% ($12,000) for qualifying buyers, and FHA loans require 3.5% ($14,000). VA and USDA loans may allow zero down for eligible borrowers.
How much is PMI on a $400K house?
This calculator estimates PMI at 0.5% of the loan per year. With 5% down ($380,000 loan), that is about $158 per month until you reach roughly 20% equity.
Is 20% down required on a $400K house?
No. The 20% figure ($80,000) is the threshold for avoiding PMI, not a requirement. Most buyers put down far less — the trade-off is a higher monthly payment and PMI.
How much should I budget beyond the down payment?
Plan for closing costs of about 2-5% of the price — $8,000 to $20,000 on a $400K home — plus moving costs and a repair reserve.