How Much Is 20% Down on a $1.5M House?

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Putting 20% down on a $1,500,000 house means writing a check for $300,000. At this price point, you’re firmly in jumbo loan territory. Here’s how different down payment amounts compare.

Down Payment Amounts on a $1.5M House

Down Payment % Amount Loan Amount Jumbo Requirements
10% $150,000 $1,350,000 Strict qualification
15% $225,000 $1,275,000 Above average credit
20% $300,000 $1,200,000 Standard requirement
25% $375,000 $1,125,000 Better rates
30% $450,000 $1,050,000 Best rates

2025 conforming loan limit is $766,550 — this property requires a jumbo mortgage regardless of down payment.

Jumbo Loan Requirements

Requirement Typical Standard
Credit score 720+ (700 minimum)
Down payment 20% recommended (10% possible)
Reserves 6-12 months
DTI ratio Under 43%
Documentation Full income verification

How Down Payment Affects Your Monthly Mortgage

At 6.75% interest (jumbo) on a 30-year fixed mortgage:

Down Payment Loan Amount P&I Payment Estimated PITI
10% ($150,000) $1,350,000 $8,756 $10,850
15% ($225,000) $1,275,000 $8,270 $10,250
20% ($300,000) $1,200,000 $7,783 $9,650
25% ($375,000) $1,125,000 $7,297 $9,050

Putting 25% down saves $1,459/month compared to 10% down (P&I only).

Total Interest Paid Over Loan Life

Down Payment Loan Amount Total Interest (30-yr, 6.75%)
10% ($150,000) $1,350,000 $1,802,000
15% ($225,000) $1,275,000 $1,702,000
20% ($300,000) $1,200,000 $1,602,000
25% ($375,000) $1,125,000 $1,502,000

25% vs 10% down saves $300,000 in interest.

How Long to Save $300,000 for 20% Down

Monthly Savings Time to $300,000
$3,000/month 8.3 years
$4,000/month 6.3 years
$5,000/month 5 years
$7,500/month 3.3 years
$10,000/month 2.5 years

Income Requirements

To afford a $1.5M house with 20% down:

Metric Amount
Loan amount $1,200,000
Monthly PITI (estimated) $9,650
Required income (28% rule) ~$413,000/year
Required income (36% DTI) ~$322,000/year
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