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Down Payment Calculator
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This Down Payment Calculator works out how much cash you'd need upfront and how much you'd need to finance, based on a home's purchase price and your target down payment percentage. It also shows the common 10% and 20% benchmarks for reference — 20% is the threshold many US lenders use to avoid private mortgage insurance (PMI), though requirements vary by lender, loan type, and country. Enter the purchase price and your target percentage to see the breakdown instantly. Pair it with the site's Loan or Mortgage Calculator to estimate the resulting monthly payment. Everything runs locally in your browser. Scroll down to enter your numbers.
Features
- Calculates down payment amount and remaining loan amount
- Shows common 10% and 20% down payment benchmarks
- Instant recalculation as you adjust the percentage
- Works with any home price and currency
Why use this down payment calculator?
- Quick upfront-cost planning before applying for a mortgage
- No manual percentage math required
- Fully private — nothing uploaded
- Free with unlimited use
Frequently asked questions
Why is 20% down payment often mentioned?
In the US, putting down 20% or more typically lets buyers avoid private mortgage insurance (PMI), an extra monthly cost lenders require on smaller down payments — requirements vary elsewhere.
Can I use this for a smaller down payment, like 5% or 10%?
Yes, enter any percentage; some loan programs allow down payments well below 20%, often with additional insurance or fees.
Does this calculate my monthly mortgage payment?
No, this tool only calculates the down payment and remaining loan amount — use the site's Mortgage Calculator with the resulting loan amount to estimate monthly payments.
Does this include closing costs?
No, closing costs are separate from the down payment and typically add another 2-5% of the purchase price — budget for them separately.
Is a bigger down payment always better?
A larger down payment generally reduces your loan amount, interest paid, and monthly payment, but the right amount depends on your savings, other financial goals, and loan terms.