Down Payment Calculator
See how much you need for different loan programs at any California home price. Includes PMI impact and program eligibility.
0% — VA / USDA
VA Loan (zero down) or USDA (rural)
No PMI (VA funding fee applies)
Down Payment
$0
Loan Amount
$800,000
3% — Conventional First-Time
Conventional (first-time buyers)
PMI required (~$200-400/mo)
Down Payment
$24,000
Loan Amount
$776,000
3.5% — FHA
FHA (580+ credit)
MIP 1.75% upfront + 0.55%/yr for life
Down Payment
$28,000
Loan Amount
$772,000
5% — Conventional
Conventional (repeat buyers)
PMI required, cancels at 80% LTV
Down Payment
$40,000
Loan Amount
$760,000
10% — Conventional / Bank Statement
Conventional, Bank Statement, Non-QM
PMI required, lower premium
Down Payment
$80,000
Loan Amount
$720,000
20% — No PMI
Conventional, Jumbo
No PMI — saves $200-500+/month
Down Payment
$160,000
Loan Amount
$640,000
25% — Investment / DSCR
DSCR, Hard Money, Investment Conv.
No PMI
Down Payment
$200,000
Loan Amount
$600,000
or call (888) 703-1840 for personalized guidance
How Much Down Payment Do You Need in California?
The required down payment depends on your loan program, not just the purchase price. VA-eligible veterans can buy with zero down. FHA requires just 3.5%. First-time conventional buyers can start at 3%. Investment properties typically need 20-25%.
Down payment assistance programs like CalHFA can help cover some or all of the down payment for eligible California buyers. Gift funds are allowed on most programs — FHA allows 100% of the down payment to come from gift money.
PMI: The Hidden Cost of Low Down Payments
Private Mortgage Insurance (PMI) on conventional loans adds $200-500+/month on California-sized loans. It cancels at 80% LTV. FHA's mortgage insurance premium (MIP) is permanent in most cases. VA loans have no PMI — just a one-time funding fee. The 20% down payment threshold eliminates PMI entirely and often unlocks better interest rates.
Save Financial helps clients weigh the trade-offs between lower down payment (preserving cash) and higher down payment (lower payment, no PMI). Get a free analysis.
Last updated: July 2026. Sources: FHFA, HUD, VA, CalHFA, CFPB, California DRE, California Association of Realtors. All loans subject to credit approval. Rates subject to change.