Down Payment Calculator
Free down payment calculator to see how much you need for any home price, compare 3% to 20% down, PMI impact, and total cash to close including closing costs.
Example Scenarios
$400k Home
10% down • 7% • spec example
FHA Minimum
3.5% down • $350k
20% Benchmark
No PMI • $400k
Savings Plan
$10k saved • $1,200/mo
Down Payment Inputs View Results
Your Down Payment at a Glance
Down Payment Comparison (3% to 20%)
Click a row to select that down payment level. PMI applies below 20%; removal projected at 80% LTV through amortization.
| Down % | Down $ | Loan | PITI/mo | PMI | PMI Removal | Cash to Close |
|---|
How This Is Calculated
Down payment = home price × down %. Loan amount = price − down. Monthly P&I uses standard amortization. Property tax and insurance are spread monthly. PMI applies below 20% down at your entered annual rate on the original loan balance until amortization brings the balance to 80% of the home price. Cash to close = down payment + closing costs.
Everything behind the Down Payment Calculator
Formulas, reference charts, and detailed answers — expand any section you need.
How Much Down Payment for a House? The Real Minimums
How much down payment a house requires depends on the loan program, not the 20% folklore: conventional loans go as low as 3%, FHA requires 3.5%, and VA and USDA loans allow zero down for eligible buyers. The 20% figure is where PMI disappears, not where buying becomes possible, and the comparison table prices the gap between the minimum and the benchmark on your exact home price.
| Loan Type | Minimum Down |
|---|---|
| Conventional | 3% |
| FHA | 3.5% |
| VA / USDA (eligible) | 0% |
| No-PMI threshold | 20% |
Down Payment Calculator: How Much Do I Need?
This down payment calculator shows what any percentage of any home price costs in cash, and what that choice does to the loan, the monthly payment, and PMI. Enter a price and the down payment calculator compares every common level side by side, 3% through 20%, with the total cash to close including closing costs, the line most buyers discover late. Enter the cash you have instead, and it solves the percentage or the price it supports.
Example: On a $400,000 home, 10% down is $40,000, roughly $52,000 total cash to close, with a loan of $360,000 and about $240 monthly PMI until equity reaches 20%.
Down Payment Calculator With PMI
A down payment calculator with PMI shows the recurring cost of putting down less than 20%: typically 0.3% to 1.5% of the loan annually, added to every payment until loan-to-value reaches 80%. On a $360,000 loan that's roughly $240 per month for about 6 years, near $17,000 total, which reframes the choice as cash now versus PMI later rather than a simple affordability question. The calculator shows the PMI line and its projected end date at every down payment level.
20% Down Payment Calculator: What the Benchmark Buys
The 20% down payment calculator column shows what the benchmark actually purchases: no PMI, a smaller loan, a lower payment, and instant equity cushion against price dips. On a $400,000 home that's $80,000 down, and against 10% down the payment falls by roughly $460 monthly once PMI is counted. Whether that's worth doubling the cash at close is exactly what the side-by-side table settles for your numbers.
Cash to Close Calculator: Down Payment Plus Closing Costs
The cash to close calculator line adds what the down payment headline omits: closing costs of roughly 2% to 5% of the price, covering lender fees, title, escrow, and prepaid taxes and insurance. The wire at closing is the sum of both, so a 5% down payment on a $400,000 home is not $20,000 but closer to $32,000, and budgeting the smaller number is the most common first-buyer cash shortfall.
How Long to Save a Down Payment?
The savings timeline turns the target into months: enter current savings and a monthly amount, and the down payment calculator shows when each level becomes reachable. At $1,200 saved monthly from a $10,000 start, 5% down on a $400,000 home arrives in about 18 months and 10% in about 35, which makes the buy-sooner-with-PMI versus wait-and-skip-it trade concrete enough to actually decide.