On an illustrative Sherman Oaks price of $1,400,000, a 20% down payment is about $280,000, 10% is about $140,000, and an FHA minimum of 3.5% is about $49,000. Sherman Oaks prices vary widely by ZIP and segment, so use these as examples - your real down payment depends on the specific home, loan program, and lender. Brian is a REALTOR®, not a lender.
Down payment on an example Sherman Oaks price
| Down payment | Approx. amount |
|---|---|
| 3.5% (FHA minimum) | $49,000 |
| 10% (conventional) | $140,000 |
| 20% (avoids PMI) | $280,000 |
These are arithmetic illustrations on an example price ($1,400,000); Sherman Oaks spans a wide range by ZIP and home type, and higher-priced homes may require jumbo financing. Confirm real numbers with a licensed lender.
Frequently Asked Questions
What down payment do I need in Sherman Oaks?
On an illustrative Sherman Oaks price of $1,400,000, a 20% down payment is about $280,000, 10% is about $140,000, and an FHA minimum of 3.5% is about $49,000. Sherman Oaks prices vary widely by ZIP and segment, so use these as examples - your real down payment depends on the specific home, loan program, and lender. Brian is a REALTOR®, not a lender.
Can I buy in Sherman Oaks with less than 20% down?
Often yes - conventional loans can go as low as 3-5% and FHA to 3.5% for those who qualify, with mortgage insurance; VA loans may allow 0% for eligible borrowers. Confirm with a licensed lender.
