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Down Payment Calculator

Estimate an affordable home price from cash on hand, the cash needed for a given price, or the down-payment percent — including closing costs, loan amount, and monthly payment.

If you know how much cash you have and a target down-payment percent, estimate an affordable home price.

ExampleSample values — edit any field to see your result.

$
%

When checked, estimated closing costs come out of upfront cash (or add to cash needed).

%

Percent of the home price. A typical estimate is 3%.

%

Annual percentage rate used for the principal-and-interest payment.

years

Results update as you type.

Home price

$434,783

Estimated result

Down payment
$86,957
Closing costs
$13,043
Loan amount
$347,826
Monthly payment
$2,266

Home price at other down payments

Down paymentHome priceDown paymentClosing costsLoan amountMonthly payment
3.5%$1,538,462$53,846$46,154$1,484,615$9,671
5%$1,250,000$62,500$37,500$1,187,500$7,735
10%$769,231$76,923$23,077$692,308$4,510
15%$555,556$83,333$16,667$472,222$3,076
20%$434,783$86,957$13,043$347,826$2,266
Home price$434,783

Estimate a home down payment three ways: from the cash you have, from a known home price, or from both. Results include closing costs, the loan amount, and the monthly principal-and-interest payment, plus a comparison at 3.5%, 5%, 10%, 15%, and 20% down.

Formula

Closing costs are 0 when the include box is off, home × percent when the unit is %, and the entered amount when the unit is $.

Upfront cash → home price (closing as a percent):

home = cash / (downPct + closingPct)
down = home × downPct
loan = home − down

Home price → cash needed:

down = home × downPct
cashNeeded = down + closing
loan = home − down

Home price + cash → down-payment percent:

down = cash − closing
downPct = down / home × 100
loan = home − down

Monthly principal and interest for loan P, monthly rate r (APR ÷ 1200), and n months (years × 12):

P&I = P × r / (1 − (1 + r)^(−n))

Amounts display as whole dollars. A computed down-payment percent shows one decimal.

If the down payment is under 20%, most lenders will require PMI (private mortgage insurance) or a mortgage insurance premium until the loan-to-value falls below about 80%.

Typical down-payment levels

Down paymentCommon usePMI on a conventional loan
3.5%FHA minimum (plus 1.75% upfront MIP)FHA MIP instead of PMI
5%Low-down conventionalYes
10%Common first-time conventionalYes
15%Building toward 20%Yes
20%Conventional guidelineNo

Examples

Cash on hand of $100,000 at 20% down

With 3% closing costs and a 6.792% 30-year rate, $100,000 of cash supports a home price of $434,783. The down payment is $86,957, closing $13,043, loan $347,826, and a monthly payment of $2,266. At 3.5% down the same cash would stretch to about $1,538,462; at 5% $1,250,000; at 10% $769,231; at 15% $555,556.

A $500,000 home at 20% down

Down payment is $100,000. With 3% closing ($15,000) you need $115,000 in cash. The loan is $400,000 and the monthly payment is $2,606. Dropping to 10% down with $5,000 of closing costs cuts cash needed to $55,000 but raises the loan to $450,000 ($2,931/mo) and triggers PMI.

Same $500,000 home with $100,000 cash

Closing at 3% is $15,000, so $85,000 remains for the down payment — 17.0%. The loan is $415,000 and the monthly payment is $2,703, with a PMI warning. Raising cash to $150,000 yields 27.0% down ($135,000), a $365,000 loan, $2,378/mo, and no PMI.

Frequently asked questions

How much down payment do I need to buy a house?
Conventional loans often look for 20% down, but many lenders accept 10%, 5%, or as little as 3%. FHA loans go as low as 3.5%. Putting less than 20% down on a conventional loan usually means paying private mortgage insurance (PMI) until you reach about 80% loan-to-value.
What are closing costs, and are they part of the down payment?
No. Closing costs are a separate upfront amount — loan origination, appraisal, title, inspection, and similar fees. A rough estimate is 3% of the purchase price, which is the default here. Cash needed at closing is the down payment plus those costs.
How is the affordable home price calculated from cash on hand?
When closing costs are a percent of price, home price equals cash divided by (down-payment percent + closing percent). At 20% down and 3% closing, $100,000 of cash supports a $434,783 home. If you skip closing costs, the home price is cash divided by the down-payment percent.
When do I have to pay PMI?
On a conventional loan, PMI is typically required when the down payment is under 20% of the home price. It is a monthly premium that protects the lender and usually ends once the loan balance falls below 80% (sometimes 78%) of the original purchase price.
Does a larger down payment always save money?
A larger down payment shrinks the loan, lowers monthly principal and interest, and — at 20% — removes PMI. The trade-off is opportunity cost: cash used for down payment cannot pay high-interest debt, fund repairs, or stay in savings. This calculator shows the payment impact so you can weigh that choice.

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