Mortgage Calculators
Mortgage Refinance Calculator
See if refinancing saves money and when you break even.
Home Down Payment Calculator
Calculate the down payment for a U.S. home, plus loan amount, PMI, monthly payment, and closing costs. Compare 3.5% to 20% down and see how long your savings plan will take.
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Tool workspace
Planning estimate for U.S. home purchases. PMI and closing costs vary by lender, credit score, and state. Calculations run in your browser.
Down payment needed
$0
Loan amount$0
Estimated closing costs$0
Total cash to close$0
Monthly principal & interest$0
Estimated PMI / month$0
Time to save-
| Down payment | Amount | Loan | P&I + PMI / month |
|---|
How it works
- Enter the home price, down payment percentage, interest rate, and loan term.
- Add your closing cost estimate, what you have saved, and how much you save per month.
- Compare 3.5% to 20% down and see cash needed, PMI, and the time to reach your goal.
Features
- Down payment, loan amount, and total cash to close
- Estimated PMI when you put less than 20% down
- Monthly principal and interest for each down payment level
- Savings timeline based on your monthly savings
- Runs in your browser with no signup
How much should I put down on a house?
Putting 20% down avoids private mortgage insurance on a conventional loan, but it is not required. FHA loans start at 3.5% down and some conventional loans allow 3% to 5%. On a $400,000 home, 10% down is $40,000 and 20% down is $80,000.
A smaller down payment means a larger loan and usually PMI. At 6.75% on a 30-year loan, the principal and interest is about $2,335 a month with 10% down and about $2,076 with 20% down, before PMI, taxes, and insurance.
Down payment is only part of the cash you need
Plan for closing costs of roughly 2% to 5% of the price on top of your down payment, plus moving costs and a cash reserve. The total cash to close shown above adds your closing cost estimate to the down payment.
Down Payment Calculator FAQ
It depends on the loan. Conventional loans can start at 3% to 5%, FHA at 3.5%, and VA or USDA loans can be 0%. Putting 20% down avoids PMI on conventional loans.
Many first-time buyers put down well under 20%, often around 6% to 10%, while repeat buyers tend to put down more. Your lender and budget decide what works for you.
A 10% down payment on a $400,000 home is $40,000, leaving a $360,000 loan.
On a conventional loan, 20% down generally avoids PMI. You can also ask to remove PMI once you reach about 20% equity.
Enter what you have saved and how much you save each month. The calculator shows the time to reach your down payment plus closing costs.