Down Payment Calculator
Calculate down payment amounts and the resulting loan size for a home or car. See how different percentages change your financing.
Home Purchase Details
Loan Details
Additional Costs
Down Payment
20.0% of home price
Loan Amount
Amount to finance
LTV Ratio
Loan-to-value
Monthly P&I Payment
Principal & Interest only
Total Monthly Payment
Including taxes & insurance
How it works
A down payment is the cash you put toward a purchase up front; the rest is financed. The calculator finds the dollar amount from a percentage (or vice versa) and shows how it changes your loan. On a home, reaching 20% down avoids PMI.
Down payment & loan
Down payment = Price · percent Loan = Price − Down payment
- Price
- purchase price
- percent
- down-payment percentage
Worked example
- Home price = $400,000
- 20% down
- Down payment = 400,000 × 0.20 = $80,000
- Loan = 400,000 − 80,000
$80,000 down, $320,000 financed — and no PMI at 20%.
Good to know
- On a conventional mortgage, 20% down removes PMI and usually earns a better rate.
- A larger down payment lowers the loan, the payment, and total interest — but don't drain your emergency fund to get there.
- Some loan types (FHA 3.5%, VA/USDA 0%) allow much smaller down payments.
Related Calculators
Frequently Asked Questions
How much should I put down on a house?
Twenty percent avoids private mortgage insurance and usually earns better rates, but it is not required: conventional loans go as low as 3-5% down, FHA requires 3.5%, and VA and USDA loans allow 0%. The median first-time buyer puts down well under 20%.
How do I calculate the down payment amount?
Multiply the purchase price by the percentage: 20% of a $400,000 home is $80,000, leaving a $320,000 loan. Work it backwards too — if you have $40,000 saved, that is 10% down on the same house.
What happens if I put less than 20% down on a conventional loan?
You pay private mortgage insurance, typically 0.3-1.5% of the loan amount per year, added to the monthly payment. PMI can be removed once you reach 20% equity, and it cancels automatically at 22% on conventional loans.
How does a bigger down payment change my mortgage?
It shrinks the loan, the monthly payment, and total lifetime interest, and often improves your rate by lowering the lender's risk. On a 30-year loan, each extra $10,000 down saves far more than $10,000 in payments over the term.
Should I drain my savings to reach 20%?
Generally no — keep an emergency fund of 3-6 months' expenses after closing, since new homes reliably produce surprise costs. Paying some PMI while staying liquid is often safer than being house-rich and cash-poor.