Down Payment Calculator
Figure out the cash you need up front for a home and the loan amount you would finance. Enter the price, then a down payment percent or a dollar amount to see both, plus whether private mortgage insurance is likely.
How to use the down payment calculator
- Enter the home price.
- Choose to enter your down payment as a percent or a dollar amount.
- Review the down payment, loan amount and any PMI note.
Examples
20% down on a $400,000 home
Home price 400000, down payment 20%
Down payment 80000, loan amount 320000, no PMI
10% down on a $400,000 home
Home price 400000, down payment 10%
Down payment 40000, loan amount 360000, PMI likely
Frequently asked questions
How much down payment do I need?
It depends on the loan and lender. Conventional loans often start near 3 to 5 percent, while 20 percent is the common target to avoid private mortgage insurance. Enter your own figure to see the cash required.
What is the 20 percent rule and PMI?
Putting at least 20 percent down on a conventional loan usually lets you skip private mortgage insurance (PMI). Below 20 percent, lenders typically add PMI to protect against default, which raises your monthly cost. This tool flags when PMI is likely.
Can I buy with a low down payment?
Yes. Many programs allow far less than 20 percent. FHA loans can go as low as 3.5 percent, conventional loans as low as 3 percent, and VA and USDA loans can require zero down for those who qualify. A smaller down payment usually means PMI or a funding fee.
Does the down payment cover all my upfront costs?
No. The down payment is separate from closing costs, which often run about 2 to 5 percent of the loan amount and cover lender fees, title, taxes and prepaids. Budget for both when you plan your cash to close.
How is the loan amount calculated?
The loan amount is the home price minus your down payment. A larger down payment lowers the amount you borrow and, with it, your monthly principal and interest.
Is my data sent anywhere?
No. The calculation runs entirely in your browser, so your home price and down payment never leave your device.
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