Down Payment for a $1,250,000 House
See how much you need to put down on a $1,250,000 home with different loan programs and down payment percentages.
Down Payment Amounts
3% Down
$37,500
Loan: $1,212,500
Est. $8,067/mo at 7%
3.5% Down
$43,750
Loan: $1,206,250
Est. $8,025/mo at 7%
5% Down
$62,500
Loan: $1,187,500
Est. $7,900/mo at 7%
10% Down
$125,000
Loan: $1,125,000
Est. $7,485/mo at 7%
20% Down
$250,000
Loan: $1,000,000
Est. $6,653/mo at 7%
Down Payment by Loan Program
Different loan programs have different minimum down payment requirements.
Conventional
3% min$37,500
Minimum 3% for first-time buyers with good credit. 5% is more common for repeat buyers.
FHA
3.5% min$43,750
Requires 3.5% down with a 580+ credit score. 10% down if credit score is 500-579.
VA
0% min$0
No down payment required for eligible active-duty military, veterans, and surviving spouses.
USDA
0% min$0
No down payment required for eligible properties in qualifying rural and suburban areas.
Private Mortgage Insurance (PMI)
When you put less than 20% down on a conventional loan, lenders typically require private mortgage insurance (PMI). PMI protects the lender if you default on the loan. It is usually added to your monthly payment.
PMI rates generally range from 0.3% to 1.5% of the original loan amount per year, depending on your credit score, down payment, and loan details. Once you reach 20% equity, you can request PMI removal.
| Down Payment | PMI Required? | Est. Monthly PMI |
|---|---|---|
| 3% ($37,500) | Yes | ~$707/mo |
| 3.5% ($43,750) | Yes | ~$704/mo |
| 5% ($62,500) | Yes | ~$693/mo |
| 10% ($125,000) | Yes | ~$656/mo |
| 20% ($250,000) | No | -- |
PMI estimates based on 0.7% annual rate. Actual PMI varies by lender, credit score, and loan details.
Frequently Asked Questions
How much is a down payment on a $1,250,000 house?
It depends on the loan program. A conventional loan may require as little as 3% ($37,500), while a 20% down payment would be $250,000. FHA loans start at 3.5% down, and VA loans may require zero down payment for eligible veterans.
Do I need 20% down to avoid PMI on a $1,250,000 home?
For conventional loans, putting 20% down ($250,000) eliminates private mortgage insurance. With less than 20% down, PMI is typically required until you reach 20% equity. FHA loans have their own mortgage insurance premiums regardless of down payment size.
What are the best low-down-payment options for a $1,250,000 house?
Conventional loans allow as low as 3% down for qualified borrowers. FHA loans require 3.5% with a credit score of 580 or higher. VA loans offer 0% down for eligible service members. USDA loans also offer 0% down in qualifying rural areas. Down payment assistance programs may also be available in your area.
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