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.

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Down payment	Home price	Down payment	Closing costs	Loan amount	Monthly 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

Down payment

Home price

Down payment

Closing costs

Loan amount

Monthly payment

3.5%

$1,538,462

$53,846

$46,154

$1,484,615

$9,671

$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

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.

Down-payment comparison levels

Down payment	Calculator use	Insurance note
3.5%	FHA-oriented scenario	FHA eligibility and MIP rules apply
5%	Low-down comparison	PMI may apply
10%	Midrange comparison	PMI may apply
15%	Near-20% comparison	PMI may apply
20%	Larger-down-payment comparison	Confirm insurance with lender

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.

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.

A down payment below 20% can involve conventional PMI or a program-specific mortgage insurance premium. The calculator flags the scenario but does not calculate premiums, eligibility, or cancellation.

Sources and limits

The default interest rate and 3% closing cost are editable examples, not current market quotes. The payment excludes taxes, insurance, HOA dues, mortgage insurance, and changing costs; use the mortgage calculator for a broader monthly estimate.

Frequently asked questions

How much down payment do I need to buy a house?

Required down payment depends on the loan program, lender, occupancy, credit, and property. The percentage choices here are comparison scenarios. HUD states that qualifying FHA borrowers may be eligible for a down payment as low as 3.5%; conventional requirements vary and PMI may apply.

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.