20% Down Payment
Standard mortgage with 20% down to avoid PMI.
Putting 20% down eliminates PMI, saving $100-200/month. On a $400,000 home, that is $80,000 down. While it takes longer to save, you start with more equity and lower monthly payments. If you invest the PMI savings, the 20% down strategy typically wins financially over 5+ years compared to a smaller down payment.
Mortgage Details
Your Monthly Payment
$2,659
/month
Loan Amount
$320,000
Total Interest
$427,185
Total Payment
$957,185
Payoff Date
March 2056
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