$1,707/mo
Principal & Interest
A $300,000 home with 10% down requires $30,000 upfront and finances the remaining $270,000. At 6.5% interest over 30 years, the monthly principal and interest payment comes to approximately $1,707 — $94 less than 5% down and $189 less than no down payment on the same home.
PMI is still required at 10% down on conventional loans, but rates are meaningfully lower than at 5% — typically $68–$180/month on a $270,000 loan. It drops off once your equity reaches 20%. Taxes and insurance add another $300–$600/month.
Calculate Your Exact Payment →The $1,707 figure is based on a $270,000 loan at 6.5% over 30 years. Adjust for your home price, rate, or down payment using the Mortgage Calculator to see your specific monthly cost.
Your $30,000 down payment saves approximately $38,040 in total interest over 30 years compared to financing the full $300,000. That's a return of $1.27 in interest savings for every $1 put down — while also lowering your PMI rate relative to a 5% down loan.
At 10% down, you're halfway to the 20% threshold where PMI disappears. Here's how the key levers interact:
| Down Payment | Down Amount | Loan Amount | Monthly P&I | PMI Est./mo | Total Interest |
|---|---|---|---|---|---|
| 0% | $0 | $300,000 | $1,896 | ~$125–$375 | $382,560 |
| 5% | $15,000 | $285,000 | $1,801 | ~$100–$285 | $363,360 |
| 10% | $30,000 | $270,000 | $1,707 | ~$68–$180 | $344,520 |
| 15% | $45,000 | $255,000 | $1,612 | ~$51–$128 | $325,320 |
| 20% | $60,000 | $240,000 | $1,517 | None | $306,120 |
Moving from 10% to 20% down requires an additional $30,000 upfront but saves $190/month in P&I plus eliminates PMI. The break-even on that extra $30,000 — against the combined monthly savings — is typically 6–8 years, depending on your PMI rate.
See how a 10% down payment plays out at different price points. Each page includes rate comparisons and term breakdowns.
Browse all 37 price points on the Mortgage & Real Estate hub.
At 10% down ($30,000) on a $300,000 home, at 6.5% over 30 years, the monthly principal and interest is approximately $1,707. Add PMI ($68–$180/mo), property taxes, and homeowner's insurance to get the full monthly cost — typically $2,075–$2,487 total depending on location.
10% of $300,000 is $30,000. That brings the loan amount to $270,000. You'll also need to cover closing costs — typically $6,000–$15,000 on a $300K purchase — so plan for total cash at closing of approximately $36,000–$45,000.
Generally yes, if you have the cash. Going from 5% to 10% down costs an additional $15,000 upfront but saves $94/month in P&I, lowers your PMI rate, and gets you to 20% equity faster. The combined monthly savings (P&I + PMI difference) typically means you recover that extra $15,000 in 7–9 years — and you keep saving every month after that. Use the PMI calculator to model the exact break-even for your situation.
Starting at 10% equity (90% LTV), you need to reach 80% LTV for PMI cancellation. At 6.5% on a $270,000 loan, that takes roughly 5–7 years of scheduled payments through amortization alone. Home appreciation can reduce that timeline significantly — if the home appreciates 10–15%, you may be able to request PMI removal based on a new appraisal before the balance drops organically.