Free tool
Down payment calculator
See what a down payment is for any price and how the loan amount changes at different percentages.
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How it works
How it works
The down payment is price x percentage. The loan amount is the price minus the down payment. The table repeats the math at 3%, 5%, 10% and 20%.
FAQ
About this calculator
How much should I put down?
It depends on the loan type, the lender and your budget. Lenders publish their own minimums, so ask about the programs you are considering.
Does a larger down payment lower the monthly payment?
Yes. It reduces the amount borrowed, which lowers the payment and the interest.
Are closing costs included?
No. Closing costs are separate from the down payment.
Is anything saved?
No. The math runs in your browser and nothing you enter is sent to us.
Is this a quote or advice?
No. It is a calculator for general information. Check results against your own figures before you rely on them.
Read the guide: How Much Down Payment Do You Need?. Related: business loan payment calculator, auto loan calculator. See all free tools. More free tools: Receivables turnover calculator, Operating margin calculator, Compound interest calculator, or see all free tools.
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Down payment examples
On a $350,000 price, here is what each percentage means. Closing costs are separate.
| Down payment | Amount | Loan amount |
|---|---|---|
| 3% | $10,500.00 | $339,500.00 |
| 5% | $17,500.00 | $332,500.00 |
| 10% | $35,000.00 | $315,000.00 |
| 20% | $70,000.00 | $280,000.00 |
Saving toward a goal
To save 20% of $350,000 ($70,000.00) in three years, set aside $70,000 / 36 = $1,944.44 a month.
What to ask a lender
Some programs accept as little as 3% or 3.5% down, and a down payment under 20% on a conventional loan often means mortgage insurance. Ask each lender for the minimum, the insurance cost and the total cash needed at closing.
Do it yourself
Home Buying Cost and Affordability Planner
Put in your income, debts and savings, then compare homes on the real monthly cost and the cash you need on closing day.
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Your down payment sets your loan-to-value; see it as a ratio with the LTV calculator.
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