See exactly how much cash you need up front and how large your mortgage will be at any down-payment percentage.
How the Down Payment Calculator works
The calculator multiplies the home price by your down-payment percentage to show the cash needed up front and the remaining loan amount.
Example calculation
On a $400,000 home, 20% down is $80,000 cash with a $320,000 mortgage; 10% down is $40,000 cash with a $360,000 mortgage plus likely PMI.
Tips for using the Down Payment Calculator
- 20% down typically removes PMI and lowers your rate.
- Don't drain your emergency fund for a bigger down payment.
- Closing costs are extra — budget 2–5% on top.
Down Payment Calculator — frequently asked questions
- Why aim for 20%?
- 20% down typically avoids private mortgage insurance (PMI), lowering your monthly cost.
- Is a low down payment bad?
- It is not always bad, but it means a bigger loan, PMI and more interest.
- Is 20% down required?
- No — many programs allow 3–5%, but expect PMI and higher costs.
- Does a bigger down payment lower my rate?
- Often yes; more equity reduces lender risk and can improve pricing.
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