3.5% down
$14,000$2,761/mo with PMIDown Payment Calculator
Compare down payment options, estimate mortgage payment impact, PMI cost, loan amount, savings timeline, closing costs, and total cash needed to buy a…
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Down Payment Calculator
Compare down payment options, estimate monthly mortgage impact, plan savings, and calculate total cash needed at closing.
5.0% down
$20,000$2,718/mo with PMI10.0% down
$40,000$2,575/mo with PMI15.0% down
$60,000$2,432/mo with PMI20.0% down
$80,000$2,076/mo no PMIBalanced down paymentThis down payment reduces the loan amount while keeping upfront cash needs below a full 20% down payment.
Your down payment
$40,00010.0% down on a $400,000 homeLoan Amount$360,000
Monthly P&I$2,335/mo
Monthly PMI$240/mo
Total Monthly$2,575/mo
LTV Ratio90.0%
Total Interest$480,583
PMI Months98 mo
PMI Total Cost$23,520
What-if scenarios
Monthly payment with 20% down$2,076/mo
Interest saved if you put 5% more down$26,699
Break-even time to recoup extra down payment55 months
Estimated equity after 5 years at 3% appreciation$122,307
Monthly payment if rate was 0.5% lower$2,457/mo
Formula
How down payment and loan amount are estimated
A down payment lowers the amount you borrow. The calculator compares the cash paid upfront, estimated loan amount, PMI impact, monthly payment, and total cash needed at closing.
Down payment = home price × down payment percentage
Loan amount = home price − down payment
LTV ratio = loan amount ÷ home price
Cash planning
Why total cash needed is more than the down payment
Buyers often need closing costs, prepaid items, and reserves in addition to the down payment. Use the cash-needed tab to estimate a broader purchase budget before comparing lender offers.
Total cash needed = down payment + closing costs + reserves
Savings timeline = remaining goal ÷ monthly contribution, adjusted for APY
Use cases
When to use this down payment calculator
Use it before setting a home-buying budget, comparing loan programs, checking PMI trade-offs, or planning how much cash to save before making an offer.
Compare 3.5%, 5%, 10%, 15%, and 20% down payment options
Review the estimate alongside lender quotes, loan program rules, credit profile, and local closing cost expectations.
Estimate loan amount, monthly principal and interest, and PMI
Review the estimate alongside lender quotes, loan program rules, credit profile, and local closing cost expectations.
Calculate how much cash may be needed at closing
Review the estimate alongside lender quotes, loan program rules, credit profile, and local closing cost expectations.
Plan a savings timeline for a down payment goal
Review the estimate alongside lender quotes, loan program rules, credit profile, and local closing cost expectations.
Review how a larger down payment may reduce interest and PMI
Review the estimate alongside lender quotes, loan program rules, credit profile, and local closing cost expectations.
Compare total cash needed across different down payment levels
Review the estimate alongside lender quotes, loan program rules, credit profile, and local closing cost expectations.
Calculator details
Down Payment Calculator formula, assumptions, and examples
Last updated: July 2026
Formula used
Formula used
Down Payment Calculator uses the values you enter to estimate totals, rates, percentages, payments, balances, or comparison results for planning.
Assumptions
Assumptions
- The numbers entered are accurate and use the same currency or time period.
- Rates, taxes, fees, deductions, and contribution rules can change.
- Rounding, timing, and real-world provider rules may cause small differences.
Example calculation
Example calculation
Enter a simple down payment calculator scenario, review the estimated result, then adjust one input at a time to compare outcomes.
When to use this calculator
When to use this calculator
Compare 3.5%, 5%, 10%, 15%, and 20% down payment options
Disclaimer
Disclaimer
This calculator is for estimation and educational use only. It does not replace professional financial, tax, legal, mortgage, investment, or accounting advice.
Questions
Frequently Asked Questions
What is a down payment calculator?
A down payment calculator estimates the upfront cash paid toward a home purchase and shows how the down payment affects loan amount, monthly payment, PMI, LTV, savings timeline, and total cash needed.
How do I calculate a down payment?
Multiply the home price by the down payment percentage. For example, a 10% down payment on a $400,000 home is $40,000.
Does a 20% down payment always make sense?
A 20% down payment can reduce monthly payments and often avoids PMI, but it also uses more cash upfront. Compare liquidity, emergency reserves, interest savings, and lender requirements before deciding.
Is total cash needed the same as the down payment?
No. Buyers often also need closing costs, prepaid items, moving costs, and cash reserves. This calculator includes a total cash-needed tab to help estimate more than the down payment alone.
