How Much Is 20% Down on a $400K House?

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Putting 20% down on a $400,000 house means writing a check for $80,000. Here’s how different down payment amounts compare.

Down Payment Amounts on a $400K House

Down Payment % Amount Loan Amount PMI Required?
3% $12,000 $388,000 Yes
5% $20,000 $380,000 Yes
10% $40,000 $360,000 Yes
15% $60,000 $340,000 Yes
20% $80,000 $320,000 No
25% $100,000 $300,000 No

How Down Payment Affects Your Monthly Mortgage

At 6.5% interest on a 30-year fixed mortgage:

Down Payment Loan Amount P&I Payment PMI (~0.5%) Total Payment
3% ($12,000) $388,000 $2,452 $162 $2,614
5% ($20,000) $380,000 $2,401 $158 $2,559
10% ($40,000) $360,000 $2,275 $150 $2,425
20% ($80,000) $320,000 $2,022 $0 $2,022

Note: PMI is estimated at 0.5% annually. Actual rates vary by credit score and lender.

Putting 20% down saves $537/month compared to 5% down (before taxes and insurance).

Total Interest Paid Over Loan Life

Down Payment Loan Amount Total Interest (30-yr, 6.5%)
5% ($20,000) $380,000 $484,300
10% ($40,000) $360,000 $458,800
20% ($80,000) $320,000 $407,700

20% down saves $76,600 in interest compared to 5% down.

How Long to Save $80,000 for 20% Down

Monthly Savings Time to $80,000
$500/month 13.3 years
$1,000/month 6.7 years
$1,500/month 4.4 years
$2,000/month 3.3 years
$3,000/month 2.2 years

Down Payment Assistance Programs

Many states offer down payment assistance for first-time buyers:

  • FHA loans: 3.5% down with credit score 580+
  • Conventional 97: 3% down for first-time buyers
  • VA loans: 0% down for veterans
  • USDA loans: 0% down in rural areas
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