FHA 3.5% Down Payment on $350,000 Home
An FHA loan minimum 3.5% down payment on a $350,000 home is $12,250.
How to use this tool
- Enter the home price.
- Enter your planned down-payment percentage.
- Read the down payment needed in dollars.
- Check the resulting loan amount.
- Note the LTV — 80% or below avoids PMI on a conventional loan.
See the minimum FHA down payment of 3.5% on a $350,000 home purchase.
Frequently asked questions
- How much down payment do I need to buy a house?
- It depends on the loan program. Conventional loans can go as low as 3%, FHA loans require 3.5%, and VA and USDA loans can require 0% down. A 20% down payment avoids private mortgage insurance on a conventional loan.
- Why does 20% down matter?
- At 20% down your loan-to-value is 80%, the level at which conventional lenders waive private mortgage insurance. It also lowers your monthly payment and the total interest you pay.
- Does the down payment include closing costs?
- No. The down payment is separate from closing costs. You will need both the down payment and an additional 2%–5% of the loan for closing costs and prepaid escrow.