Down Payment Calculator
See your down payment, loan amount, and whether you clear the 20% mark that avoids PMI.
A down payment calculator shows the cash you put down, the loan you take, and your loan-to-value ratio. Enter a home price and a percent, and it returns your down payment, loan amount, and whether PMI applies. On a $400,000 home, 20% down is $80,000, leaving a $320,000 loan at 80% loan-to-value with no PMI.
Down Payment & Loan Amount Calculator
Load a preset to start, then edit any field with your own numbers.
The price you plan to pay. Typical range: 100,000–2,000,000.
Slide to set your down payment percent. The 20% mark removes PMI. Typical range: 3–20%.
Advanced settings: exact amount & savings goal
Enter a dollar figure to override the slider. Leave blank to use the percent.
What you have toward the down payment now.
Used to work out how much to save each month to reach your down payment.
Please enter a home price greater than zero and a down payment below the price.
Down payment you need
Down payment = home price × percent
Loan = home price − down payment
LTV = loan ÷ home price
PMI usually applies when LTV is above 80%, meaning you put down less than 20%.
Show calculation breakdown
Your Starting Equity
Loan Amount by Down Payment
Smart Insights
Your personalized breakdown will appear here.
What Is a Down Payment Calculator?
A down payment calculator turns a home price and a percent into the three numbers you need before you make an offer: the cash you put down, the loan you take out, and your loan-to-value ratio. That last one decides whether you pay PMI.
Your down payment is the part of the price you cover with your own money. Everything else is the loan. The bigger your down payment, the smaller your loan and monthly cost.
Who Uses This Down Payment Tool
- First-time buyers checking how much cash they need to save.
- Buyers near the 20% line deciding whether to stretch to avoid PMI.
- Savers setting a monthly target to hit their down payment by a date.
Once you know your loan amount, the mortgage calculator shows the monthly payment that goes with it.
How the Down Payment Calculator Works
You enter a home price and a percent, and the tool does the rest. Open Advanced settings to enter an exact dollar amount or plan your savings.
- Enter the home price. Use the listing price or your offer.
- Set the percent. Slide to your planned down payment percent.
- Read the results. See your down payment, loan amount, LTV, and PMI status.
To plan saving, add what you have set aside and how many months until you buy. The tool then shows how much to save each month to reach your goal.
Reading Loan-to-Value
Loan-to-value, or LTV, is your loan divided by the home price. A 20% down payment gives an 80% LTV, which is the line where PMI usually falls away. The lower your LTV, the less risk the lender sees, and the better your terms.
How Much Should You Put Down?
There is no single right number. It depends on your cash, your loan type, and how much monthly payment you want. Here is how the common choices compare.
| Down Payment | What It Means | Trade-off |
|---|---|---|
| 3% to 3.5% | Minimum for many conventional and FHA loans | Lowest cash, but PMI and a larger loan |
| 5% to 10% | A common middle ground | Smaller loan, still some PMI |
| 20% | Removes PMI on a conventional loan | Needs the most cash up front |
| More than 20% | Lowest loan and payment | Ties up cash you might need elsewhere |
A larger down payment lowers your payment but empties your savings. Keep an emergency fund after you buy. If more house is the goal, see how the down payment lifts your ceiling in the mortgage affordability calculator.
The 20% Rule and PMI
Put down less than 20% on a conventional loan and the lender usually adds private mortgage insurance, or PMI. It protects the lender, not you, and it adds to your monthly payment until you build 20% equity.
This is why the 20% mark matters. Crossing it removes an ongoing cost. But reaching it is not always worth draining every dollar of savings, since PMI does eventually come off as you pay the loan down.
How Much PMI Costs
PMI typically runs a few tenths of a percent to over one percent of the loan each year. To see the exact monthly cost for a smaller down payment and when it can be removed, use the PMI calculator.
Planning How to Save Your Down Payment
A down payment is usually the biggest cash hurdle to buying. Breaking it into a monthly savings target makes it reachable.
Enter what you have saved and how many months until you buy. The tool subtracts your savings from the down payment and divides the rest by the months, giving a clear monthly number to aim for.
- Automate it. A standing transfer on payday makes the target stick.
- Keep it safe. Money you need within a couple of years belongs in savings, not the stock market.
- Look for help. Many first-time buyer programs offer down payment assistance.
Remember the down payment is not the only cash you need at the table. Closing costs come on top, which you can estimate with the amortization calculator for the loan itself and a closing costs tool for the fees.
Common Down Payment Mistakes
Spending Every Dollar of Savings
A 20% down payment that leaves you with no emergency fund is risky. Keep a cash cushion for the surprises that come with owning a home.
Forgetting Closing Costs
Closing costs are separate from the down payment and can add several percent of the loan. Budget for both.
Assuming 20% Is Required
It is not. Many loans allow 3% to 5% down. The 20% mark only removes PMI; it is not a minimum to buy.
Chasing 20% at Any Cost
Waiting years to reach 20% can cost more in rising prices and rent than PMI would. Run the numbers before delaying.
Down Payment FAQs
How much down payment do I need for a house?
Many conventional loans allow as little as 3% and FHA loans 3.5%. Putting down 20% removes PMI. On a $400,000 home, 20% is $80,000.
What is loan-to-value?
LTV is your loan divided by the home price. A 20% down payment gives an 80% LTV, the usual line where PMI is no longer required.
Do I have to put down 20%?
No. Twenty percent removes PMI, but it is not a minimum. Many buyers put down far less and pay PMI until they build equity.
What is PMI and when does it apply?
Private mortgage insurance protects the lender when you put down under 20% on a conventional loan. It is added to your payment until you reach about 20% equity.
Does a bigger down payment lower my payment?
Yes. A larger down payment means a smaller loan, a lower monthly payment, and possibly no PMI.
Are closing costs part of the down payment?
No. Closing costs are separate fees due at closing, on top of your down payment. Budget for both.
How much should I save each month?
Enter your target down payment, current savings, and months until you buy in Advanced settings. The tool shows the monthly amount to reach your goal.
Is this down payment calculator free?
Yes. There is no signup and nothing you enter leaves your browser.
Further Reading and Sources
The down payment math here is simple and exact. Use these primary sources to check loan rules:
- CFPB Owning a Home explains down payments, PMI, and loan-to-value.
- HUD Buying a Home covers FHA minimum down payments and assistance programs.
- Freddie Mac My Home documents conventional low-down-payment options and PMI cancellation.
Minimum down payments and PMI rules vary by loan program. Confirm the specifics with your lender.
Last updated August 22, 2026. This tool is provided for general informational and planning purposes only. It is not financial advice. Minimum down payments and PMI rules vary by loan program and lender. Confirm the details with your lender before making an offer.
Creator
Shakeel Muzaffar is the Founder and Editor-in-Chief of MultiCalculators.com, bringing over 15 years of experience in digital publishing, product strategy, and online tool development. He leads the platform's editorial vision, ensuring every calculator meets strict standards for accuracy, usability, and real-world value. Shakeel personally oversees content quality, formula verification workflows, and the platform's commitment to publishing tools that are genuinely useful for students, professionals, and everyday users worldwide.
Areas of Expertise: Editorial Leadership, Digital Publishing, Product Strategy, Online Calculators, Web Standards
