How much should I put down?

A larger down payment means a smaller loan, a lower monthly payment, less total interest, and often a better rate. On conventional mortgages, 20% down typically avoids private mortgage insurance (PMI), which is why it is the classic benchmark — but many buyers put down less and accept PMI to buy sooner.

What happens if I put down less than 20%?

On a conventional loan the lender will usually require private mortgage insurance, an added monthly cost until your equity reaches the required threshold. Various loan programs allow much smaller down payments — commonly in the 3% to 5% range — with their own insurance or fee structures, so compare the all-in monthly cost, not just the down payment.

Is the down payment all the cash I need at closing?

No. Closing costs — lender fees, title, escrow, prepaid taxes and insurance — typically add a further few percent of the purchase price on top of the down payment. Budget for both, plus moving costs and a reserve, when deciding what you can afford.

Does my earnest money count toward the down payment?

Yes. The earnest-money deposit you pay when your offer is accepted is held in escrow and credited at closing, so it becomes part of the down payment you have already paid rather than an extra cost.

Is the percentage based on the price or the appraised value?

This tool applies the percentage to the purchase price, which is how offers are usually framed. Lenders, though, base the loan-to-value ratio on the lower of the price and the appraisal — if the home appraises below the agreed price, you may need extra cash to keep the same loan-to-value.

No — the calculation runs entirely in your browser and nothing you enter leaves your device.

Down Payment Calculator

Calculate a down payment amount and the resulting loan from price and percentage.

Runs in your browser — files never leave your device

Purchase price$Down payment%

Down payment

$60,000

Loan amount

$240,000

How it works

This calculator turns a purchase price and a down-payment percentage into the two numbers every buyer needs: the cash due up front and the loan that finances the rest. Enter the price and the percentage, and it shows the down payment in dollars and the resulting loan amount instantly as you type.

The math is deliberately simple: down payment = price × (percentage ÷ 100) and loan amount = price − down payment. A fully worked example: on a $300,000 home with 20% down, the down payment is 300,000 × 0.20 = $60,000, leaving a $240,000 loan. Drop to 10% and you need $30,000 up front but borrow $270,000; at 5% it is $15,000 down and a $285,000 loan; at 3% — the floor for some low-down-payment programs — just $9,000 down but a $291,000 loan.

The percentage you choose ripples through the whole purchase. A bigger down payment shrinks the loan, which lowers every monthly payment and the total interest paid over the term, and a lower loan-to-value ratio often earns a better rate. On conventional mortgages, staying at or above 20% down typically avoids private mortgage insurance; below that, PMI adds a recurring cost until you build enough equity. The trade-off is liquidity — cash locked into the house is not available for repairs or emergencies.

Keep the tool’s scope in mind. The down payment is not your total cash to close: closing costs typically add a further few percent of the price, and prepaid taxes, insurance, and reserves come on top. The loan amount shown is the simple remainder before any financed fees are rolled in. And while offers are framed as a percentage of the purchase price, your lender computes loan-to-value against the lower of the price and the appraised value — a low appraisal can mean bringing extra cash to keep the same terms.

Frequently asked questions

How much should I put down?: A larger down payment means a smaller loan, a lower monthly payment, less total interest, and often a better rate. On conventional mortgages, 20% down typically avoids private mortgage insurance (PMI), which is why it is the classic benchmark — but many buyers put down less and accept PMI to buy sooner.
What happens if I put down less than 20%?: On a conventional loan the lender will usually require private mortgage insurance, an added monthly cost until your equity reaches the required threshold. Various loan programs allow much smaller down payments — commonly in the 3% to 5% range — with their own insurance or fee structures, so compare the all-in monthly cost, not just the down payment.
Is the down payment all the cash I need at closing?: No. Closing costs — lender fees, title, escrow, prepaid taxes and insurance — typically add a further few percent of the purchase price on top of the down payment. Budget for both, plus moving costs and a reserve, when deciding what you can afford.
Does my earnest money count toward the down payment?: Yes. The earnest-money deposit you pay when your offer is accepted is held in escrow and credited at closing, so it becomes part of the down payment you have already paid rather than an extra cost.
Is the percentage based on the price or the appraised value?: This tool applies the percentage to the purchase price, which is how offers are usually framed. Lenders, though, base the loan-to-value ratio on the lower of the price and the appraisal — if the home appraises below the agreed price, you may need extra cash to keep the same loan-to-value.
Is my data uploaded?: No — the calculation runs entirely in your browser and nothing you enter leaves your device.

Down Payment Calculator

How it works

Frequently asked questions

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