15% Down for First-Time Buyers

Minimal PMI, strong jumbo pricing, and a low monthly payment.

Down Payment %

15%

On a $400K Home

$60,000

Loan Amount

$340,000

Sample Price

$400,000

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Get Pre-Approved in 15% Down for First-Time Buyers

5 minutes · No cost · Soft credit pull only

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NMLS# 1859012 · Equal Housing Lender

15% Down · First-Time Buyers

15% Down for First-Time Buyers in Florida

For first-time buyers, 15% down is usually about pairing the loan with Florida assistance. First-time buyers qualify for Hometown Heroes and SHIP help, which can cover most of the cash to close, and a soft-pull pre-approval makes your offer credible. We line both up before you tour homes.

Fifteen percent down puts you within reach of the no-PMI threshold while keeping more cash than a full 20% would. PMI at this level is small, and jumbo pricing improves noticeably.

On a $400,000 home, 15% down is $60,000. Your PMI is minimal and disappears soon after closing as you approach 20% equity. For jumbo borrowers, 15% down often unlocks better rates and easier approval than 10%.

This is a practical target for buyers who have saved well but do not want to part with the full 20%. We show you the monthly difference between 15% and 20% so you can decide whether holding back that cash is worth the small PMI.

15% Down at a Glance

✓Minimal PMI that cancels soon after closing.

✓Better jumbo rates than a 10% down loan.

✓Keeps more reserves than a full 20% down.

✓Low monthly payment from the smaller balance.

Read the full 15% down guide, or compare other loan types: FHA · Conventional · Florida.

15% Down Snapshot

15%Down Payment %

$60,000On a $400K Home

$340,000Loan Amount

$400,000Sample Price

How It Works

Apply Online

5 min · soft credit pull only

Match Program

We shop lenders + assistance

Processing

Our team handles paperwork

Typically 14–21 days

FAQ

15% Down for First-Time Buyers Questions

Is 15% down good for first-time buyers in Florida?

Yes. First-time buyers can pair 15% down with Hometown Heroes (up to $35,000) and county SHIP grants, which often cover most of the cash needed. We map your exact cash to close and get you pre-approved first.

Is PMI expensive at 15% down?

No. At 15% down PMI is small and short-lived, because you only need to gain 5% more equity for it to cancel. Many buyers reach that within a couple of years through payments and Florida appreciation. We estimate when yours would drop off.

Should I put 15% or 20% down?

It depends on your reserves and goals. Twenty percent removes PMI entirely; 15% keeps an extra 5% of the price in your pocket for a small monthly PMI cost. If that cash matters more than the PMI, 15% can be the smarter call. We model both.

Keep Going

15% Down Guide 15% Down · FHA 15% Down · Conventional 15% Down · Florida All Down Payment Options Apply for Pre-Approval

15% Down for First-Time Buyers?

A licensed Florida mortgage broker who shops the loan and the assistance for you — 5-minute pre-approval, honest numbers.

(561) 300-0380

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.