Conventional Loan Down Payment Comparison (Washington State)
Choosing your down payment is one of the most important steps in financing a home. Each option—3%–5%, 10%, 15%, or 20%—offers unique trade-offs in upfront cost, monthly payment, and equity growth. Explore the cards below to see which best fits your situation as a Washington homebuyer.
3%–5% Down
- Lowest upfront cash
- PMI required at higher cost
- Accessible for first-time buyers
- PMI removable with equity milestones
10% Down
- Moderate upfront savings required
- Lower PMI than 3%–5%
- Balanced equity and liquidity
- Competitive in strong markets
15% Down
- Stronger equity at closing
- Reduced PMI costs
- Closer to eliminating PMI
- Good for move-up buyers
20% Down
- No PMI required
- Lowest monthly payments
- Strongest equity position
- Most competitive offers
Whether you choose a low down payment to get into your first home, or invest 20% to maximize affordability, the right path depends on your savings, goals, and comfort level. Compare your options, then get pre-approved to know exactly what works for you in Washington’s market.