Down Payment Calculator
Down Payment Calculator
Estimate your down payment, loan amount, closing costs, and the cash you may need to close.
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
Compare options
Down payment scenarios
Select a scenario to apply it to the calculator.
How much down payment do you need?
A larger down payment reduces the amount borrowed, while a smaller down payment keeps more savings available. The practical choice depends on the loan programs available to you, closing costs, and how much cash you want to keep after the purchase.
How to calculate a down payment
Multiply the home price by the down payment percentage. For example, 10% of a $400,000 home is $40,000. To find the percentage from a dollar amount, divide the down payment by the home price and multiply by 100.
Down payment amount vs. down payment percentage
The amount is the cash applied to the purchase price. The percentage expresses that amount relative to the home price. Both describe the same contribution, so changing either one updates the other in this calculator.
How much cash do you need to close?
Cash to close is broader than the down payment. This estimate adds closing costs, then subtracts earnest money and seller or lender credits. Actual prepaid taxes, insurance, escrow deposits, fees, and lender requirements may change the final amount.
Do you need a 20% down payment?
A 20% down payment is not required for every mortgage. Some loan programs allow less. With a conventional loan below 20% down, PMI may be required. At 20% or more, PMI is typically not required for a conventional loan, subject to lender rules.
How a down payment affects your mortgage
The down payment reduces the loan amount and loan-to-value ratio. Once you choose an upfront amount, use the Mortgage Payment Calculator to estimate principal, interest, taxes, insurance, and ongoing monthly costs.
What are closing costs?
Closing costs are transaction and loan expenses separate from the down payment. They can include lender fees, title services, appraisal costs, government charges, and other items. The exact amount depends on the loan and transaction.
Down payment examples
On a $400,000 home, 3% is $12,000, 5% is $20,000, 10% is $40,000, and 20% is $80,000. If you are still choosing a realistic home price, start with the Home Affordability Calculator.
Frequently asked questions
How much should I put down on a house?
The right amount depends on your loan options, available savings, closing costs, and the cash you want to keep after closing. Compare several percentages rather than assuming one amount fits every buyer.
Do I need 20% down to buy a home?
No. Some conventional and government-backed loan programs allow less than 20% down. Eligibility, pricing, and mortgage insurance requirements depend on the loan and lender.
How much is a 5% down payment?
Multiply the home price by 0.05. A 5% down payment is $20,000 on a $400,000 home, before closing costs and prepaid expenses.
How much is a 10% down payment?
Multiply the home price by 0.10. A 10% down payment is $40,000 on a $400,000 home, before closing costs and prepaid expenses.
What is included in cash to close?
Cash to close can include the down payment, closing costs, prepaid taxes and insurance, escrow deposits, and other adjustments, minus eligible deposits and credits. Your final closing disclosure provides the actual amount.
Are closing costs included in the down payment?
No. The down payment reduces the amount financed. Closing costs cover separate loan and transaction expenses, so buyers usually need to plan for both.
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 final closing statement.
When is PMI required?
PMI may be required on a conventional mortgage when the down payment is below 20%. The exact rules, cost, and removal conditions depend on the lender and loan.
Can a seller help pay closing costs?
A seller may be able to provide a closing-cost credit when the contract, appraisal, loan program, and lender allow it. Limits and eligibility vary.
Is this calculator a loan approval?
No. This calculator provides an educational estimate and is not a loan offer, approval, or guarantee of financing terms.