Down Payment Calculator — Calculate Your Home Down Payment

Home Price ($)Enter a valid price.

Down Payment (%)Enter a percentage between 0 and 100.

Down Payment Needed

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Resulting Loan Amount

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How to Use This Tool

Enter the home price.
Enter your target down payment percentage.
Click Calculate to see the down payment amount and resulting loan size.

The Down Payment Formula

Down Payment = Home Price × Down Payment Percentage

Loan Amount = Home Price − Down Payment

Common Down Payment Benchmarks

20%: The traditional benchmark that avoids private mortgage insurance (PMI) on conventional loans
3-5%: Common minimums for many conventional first-time-buyer programs
3.5%: Minimum for FHA loans (US) for qualifying borrowers
0%: Available through certain VA (veterans) and USDA (rural) loan programs in the US

Why 20% Is Often Recommended

Putting down at least 20% typically avoids the added monthly cost of private mortgage insurance (PMI), which lenders require on conventional loans with smaller down payments to protect themselves against default risk. It also directly reduces your loan amount and therefore your monthly payment and total interest.

Frequently Asked Questions

Do I always need 20% down to buy a home?

No — many loan programs allow much smaller down payments (3-5% or even 0% for certain programs), though putting down less than 20% on a conventional loan typically requires paying for private mortgage insurance (PMI).

What is PMI?

Private Mortgage Insurance is an added monthly cost lenders require on conventional loans with less than 20% down, protecting the lender if you default — it's usually removable once you reach 20% equity in the home.

This calculator is provided for general informational and estimation purposes only. Results should not be treated as professional financial, tax, legal, medical, or engineering advice. Always verify critical calculations with a qualified professional or official source before making decisions.