Down Payment Calculator
Convert a down payment percent into dollars and compare common 3%, 5%, 10%, and 20% amounts.
Use it when you are turning a percent down into dollars, and checking whether that is under 20%.
Compare scenarios
Common down payments
PMI practices vary by loan type. FHA loans can require mortgage insurance below and above 20% down.
| Down payment | Amount | Loan | Conventional PMI |
|---|---|---|---|
| 3% | $13,500.00 | $436,500.00 | Often required |
| 5% | $22,500.00 | $427,500.00 | Often required |
| 10% | $45,000.00 | $405,000.00 | Often required |
| 20% | $90,000.00 | $360,000.00 | Usually not required |
How we calculated this
Down payment is the home price multiplied by the percent you plan to pay in cash. The loan is the price minus that cash.
What does this mean?
$90,000 is at least 20% down, which is the usual point where conventional PMI is not required.
Your assumptions
Edit assumptions- Home price
- $450,000
- Down payment
- 20%
This calculator provides an estimate for informational purposes. Actual mortgage payments, taxes, insurance, PMI, fees, and lender terms may vary.
Embed
Paste this iframe to show the calculator on another page. Taller results scroll inside the frame.
<iframe src="https://myhousingiq.com/embed/down-payment-calculator" title="Down Payment Calculator" width="100%" height="900" style="border:0;max-width:1080px;"></iframe>
How the estimate is calculated
Cash down is the price times the percent.
The loan is the price minus that cash. Conventional PMI is often required under 20% down.
Down payment formula
Down payment equals home price times the percent. Loan amount equals price minus down payment.
Example
- Enter the price.
- Enter the percent you plan to put down.
- Read the cash amount and the comparison table.
With the numbers filled in on this page, the estimate is $90,000.
What changes the result
Loan type
Some loans allow less than 20% down and still have different insurance rules. FHA is one example.
Cash to close
Closing costs sit on top of the down payment. Use the closing cost calculator for that piece.
PMI
Under 20% down, many conventional loans add mortgage insurance until the balance drops.
Questions
Is 20% required?
No. Twenty percent is the usual point where conventional PMI drops off, not a rule that you must hit it.
Does this include closing costs?
No. It is the down payment only.
What is loan-to-value?
Loan-to-value is the loan divided by the price. A 20% down payment is an 80% loan-to-value.