Down Payment Guide · May 2026

Down Payment on a
$350K House

By Ziya Y. · 23 Years Banking & Mortgage · Real Numbers, Not Estimates

3% Down (FHA/Conv)

$10,500

Loan: $339,500
+PMI required
~$226/mo PMI

5% Down

$17,500

Loan: $332,500
+PMI required
~$221/mo PMI

10% Down

$35,000

Loan: $315,000
+PMI (lower rate)
~$131/mo PMI

20% Down (No PMI)

$70,000

Loan: $280,000
No PMI required
Best monthly payment

Monthly Payment Comparison

5% down + PMI$2,366/mo total

20% down, no PMI$1,806/mo — saves $560/mo

PMI savings over 7 years$47,040 total

Income needed (20% down)$77,399/yr minimum

Which Down Payment Makes Sense?

Put 20% down if you can. On a $350K home, the difference between 5% and 20% down is $560/month — or $47,040 over 7 years. That's real money.

Put 3-5% down if you can't. Getting into a home sooner and building equity beats waiting. But factor PMI into your budget — it's $221/month on top of your payment until you hit 20% equity.

10% down is often the sweet spot. PMI is lower, down payment is manageable, and you're not starting with underwater equity risk.

Calculate Your Exact Situation

Ask Zai with your income, credit score, and savings — get the optimal down payment for your situation.

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Not financial advice. PMI estimates at 0.8% annually. Rates at 6.7%. Down payment options vary by loan type and lender.

Down Payment on a$350K House

Monthly Payment Comparison

Which Down Payment Makes Sense?

Other Home Prices

Down Payment on a
$350K House