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Down Payment Calculator
Calculate required down payment
How It Works
Free down payment calculator to determine how much you need to save for a home down payment and how long it will take.
A down payment calculator helps prospective homebuyers plan their savings strategy for purchasing a home. The down payment is the portion of the home's purchase price paid upfront, and it affects the loan amount, monthly payment, and whether mortgage insurance is required.
Conventional loans typically require a 20% down payment to avoid private mortgage insurance (PMI), though some lenders offer conventional loans with as little as 3-5% down. FHA loans require as little as 3.5% down but require mortgage insurance for the life of the loan if the down payment is under 10%. VA and USDA loans may offer 0% down payment options for eligible borrowers.
The down payment calculator helps estimate how much needs to be saved based on the target home price and desired down payment percentage, and how long it will take to reach that goal at a given savings rate.
Results
Enter values to see results
Quick Tips
- • Results update automatically as you type
- • Use Tab to navigate between fields
- • Press Enter to calculate