Real Estate
Down Payment Calculator
Calculate the down payment required for any home and see how different percentages affect your loan amount.
Down Payment Needed
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How It Works
Down Payment = Home Price Γ (Down Payment % / 100). Your loan amount = Home Price β Down Payment. Putting less than 20% down typically requires PMI (Private Mortgage Insurance), adding $50β$250/month.
Example
A $350,000 home at 20% down requires $70,000 upfront. At 5% down, only $17,500 β but you'll pay PMI until you reach 20% equity.
Frequently Asked Questions
What is the minimum down payment?
FHA loans: 3.5% (with 580+ credit score). Conventional: 3% for some programs. VA and USDA loans: 0% for eligible borrowers. Jumbo loans: typically 10β20%.
What is PMI?
Private Mortgage Insurance, required when down payment is below 20% on conventional loans. Costs 0.5β1.5% of loan amount annually, added to your monthly payment.
Should I put 20% down?
If you can afford it, 20% eliminates PMI and lowers your monthly payment. But tying up all savings in a home has opportunity cost. Compare with investing the difference.