How Much Is a 20% Down Payment?
Down Payment Calculator
A 20% down payment equals 0.2 times the home price. Use the calculator to convert that percentage into dollars and estimate the cash needed at closing.
The example starts with a $400,000 home, where 20% down equals $80,000. Closing costs are shown separately so the upfront estimate is not limited to the down payment alone.
Upfront estimate
Start with the purchase price and down payment
Adjust the upfront assumptions to see the estimate update immediately.
$80,000 equals 20% of the home price.
Estimated cash needed to close
$92,000
Down payment plus estimated closing costs, less earnest money and eligible credits.
- Down payment amount
- $80,000
- Down payment percentage
- 20%
- Estimated loan amount
- $320,000
- Estimated closing costs
- $12,000
- Earnest money credit
- −$0
- Seller or lender credits
- −$0
- Loan-to-value ratio
- 80%
- Remaining amount financed
- $320,000
PMI is typically not required for a conventional loan
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Down payment scenarios
Select a scenario to apply it to the calculator.
What a 20% down payment looks like
20% down is $20,000 on a $100,000 home, $60,000 on a $300,000 home, and $100,000 on a $500,000 home. At 20% down, PMI is typically not required for a conventional loan, although lender requirements still apply.
Assumptions behind this estimate
The calculator starts with 3% estimated closing costs. It treats earnest money and seller or lender credits as reductions to the estimated amount still due at closing. Actual fees, prepaid taxes, insurance, escrow deposits, credits, and lender requirements can differ.
Plan the monthly payment next
After comparing upfront options, use the Mortgage Payment Calculator to estimate the full monthly cost. If the purchase price is not settled yet, the Home Affordability Calculator can help you compare comfortable price ranges.
Frequently asked questions
How do I calculate a 20% down payment?
Multiply the home price by 0.2. For example, 20% of $400,000 is $80,000.
Does a 20% down payment require PMI?
PMI is typically not required for a conventional loan at 20% down, though the lender and loan program make the final determination.
Are closing costs included in the down payment?
No. The down payment reduces the amount financed, while closing costs cover separate transaction and loan expenses. Buyers usually plan for both amounts.
Does earnest money reduce cash to close?
Earnest money is typically credited toward the amount due at closing when the purchase is completed, subject to the purchase contract and closing statement.
Is this calculator a loan approval?
No. It is an educational estimate. A lender determines eligibility, required cash, loan terms, and approval after reviewing the complete application.