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10% Down · Conventional

10% Down Conventional Loan

Lower PMI, an entry point for jumbo loans, and room for a piggyback second.

Down Payment %
10%
On a $400K Home
$40,000
Loan Amount
$360,000
Sample Price
$400,000
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NMLS# 1859012 · Equal Housing Lender
10% Down · Conventional

10% Down Conventional Loan in Florida

On a conventional loan, 10% down avoids FHA's upfront premium. It uses PMI that cancels at 20% equity instead of lasting the loan's life. For a buyer with a 680+ score, the conventional route is often cheaper per month. We run it against FHA so you see the real difference.

Ten percent down cuts your PMI sharply and opens doors that smaller down payments do not — including many jumbo loans and piggyback structures that avoid PMI entirely. It is a strong position for move-up buyers.

On a $400,000 home, 10% down is $40,000. At this level PMI is low and falls off quickly as you build equity. Some buyers use a 10% down piggyback (an 80/10/10 structure) to skip PMI altogether by splitting the financing into a first and a small second mortgage.

Ten percent is also the entry point for many Florida jumbo loans above the conforming limit. We compare a single loan with PMI against a piggyback so you see which is cheaper over the years you actually plan to stay.

10% Down at a Glance

✓Low PMI that cancels quickly as equity grows.
✓Entry point for many Florida jumbo loans.
✓Enables an 80/10/10 piggyback to avoid PMI.
✓Lower balance, lower monthly payment than 5% down.

Read the full 10% down guide, or compare other loan types: FHA · First-Time Buyers · Florida.

10% Down Snapshot
10%Down Payment %
$40,000On a $400K Home
$360,000Loan Amount
$400,000Sample Price
How It Works
01
Apply Online
5 min · soft credit pull only
02
Match Program
We shop lenders + assistance
03
Processing
Our team handles paperwork
04
Close
Typically 14–21 days
FAQ

10% Down Conventional Loan Questions

Is 10% down better on a conventional loan?

For stronger credit, often yes. Conventional skips FHA's upfront mortgage insurance and its PMI eventually cancels, so the long-run cost can be lower. We compare 10% down on conventional versus FHA for your exact numbers.

Can I avoid PMI with 10% down?

Sometimes, through an 80/10/10 piggyback: a first mortgage at 80%, a second at 10%, and your 10% down. That avoids PMI but adds a second payment, so it only wins in certain rate environments. We compare it against simply paying PMI.

Do jumbo loans require more than 10% down?

Many Florida jumbo loans now allow 10% down for strong borrowers, though some still want 15% to 20%. It depends on the lender, loan size, and your reserves. As a broker we shop the jumbo lenders that allow the lowest down payment for your profile.

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10% Down Conventional Loan?

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Figures are illustrative only and based on a sample purchase price. APR, payments, and assistance amounts vary by credit score, loan amount, income, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.