Free Down Payment Calculator - Plan Your Home Purchase
Calculate your down payment amount, see how long to save, and understand the impact on your mortgage payment and PMI.
Quick Answer
Standard down payment is 20% of home price ($60,000 on a $300,000 home) to avoid PMI. Lower down payments (3-5%) are available but require PMI. Our calculator shows savings timeline and payment impact.
Key Facts about Down Payment Calculator:
- 20% down eliminates PMI requirement
- Minimum 3% down for conventional, 3.5% for FHA
- VA and USDA loans offer 0% down options
- PMI typically costs 0.5-1% of loan annually
- Higher down payment means lower monthly payment
- Consider closing costs (2-5%) in addition to down payment
Why Use Our Down Payment Calculator?
Down payment planning:
Amount Calculator
Calculate down payment for any home price.
Savings Timeline
See how long to save your down payment.
PMI Impact
Compare payments with and without PMI.
Payment Comparison
See how down payment affects monthly cost.
Instant Results
Get calculations immediately.
Private
Your data stays secure.
How to Down Payment Calculator in 3 Easy Steps
Plan your down payment:
Enter Home Price
Input target purchase price.
Choose Percentage
Select down payment percentage.
View Analysis
See amount, savings plan, and payment impact.
Why Use Our Calculator?
Plan savings goals
Understand PMI impact
Compare options
Budget accurately
Common Use Cases for Down Payment Calculator
Perfect for:
Frequently Asked Questions
Everything you need to know about our down payment calculator
How much should I put down on a house?
20% avoids PMI; 3-5% common for first-time buyers with PMI.
20% avoids PMI and gets best rates. But 3-5% down is common for first-time buyers. Consider what you can afford monthly including potential PMI.
Is 20% down necessary?
No, but under 20% requires PMI. Calculate total cost to compare options.
No, many loans allow 3-5% down. But less than 20% requires PMI (0.5-1% of loan annually). Calculate total cost to decide.
How long to save for down payment?
Depends on price, savings rate, and percentage - use calculator for your timeline.
Depends on home price, savings rate, and down payment percentage. Our calculator shows timeline based on your monthly savings amount.
Still have questions? Try the tool yourself!
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