Down Payment Calculator - Calculator See


Down Payment Calculator

Calculate how your down payment size affects monthly mortgage payments, Private Mortgage Insurance (PMI), and total interest.

Calculator Inputs

$
Total home price.
%
20% avoids Private Mortgage Insurance (PMI).
%
30-year fixed APR.

Calculated Results

Down Payment Cash Required
$70,000.00 (20% - Eliminates PMI)
Monthly Payment (P&I) $1,770.00 / mo
Monthly PMI Savings +$175.00 / mo Saved
Loan-to-Value (LTV) 80.0%
Values calculate live as you adjust inputs.

About Down Payment Calculator

Demonstrates the compounding benefits of larger upfront down payments in reducing monthly obligations and avoiding Private Mortgage Insurance (PMI).

What is Down Payment Calculator?

Demonstrates the compounding benefits of larger upfront down payments in reducing monthly obligations and avoiding Private Mortgage Insurance (PMI).

How to Use This Calculator

  1. Enter target home purchase price.
  2. Adjust down payment percentage.
  3. View upfront cash required, loan amount, and monthly payment.

The Mathematical Formula & Variables

Down Payment = Home Price * (Percent / 100)

Step-by-Step Worked Example

Scenario: $350,000 home with 20% down payment.

  1. Down payment = $350,000 * 0.20 = $70,000.
  2. Loan balance = $280,000.
  3. Monthly P&I at 6.5% = $1,769.80 with $0 PMI.

Result: $70,000 cash down ($0 PMI)

Frequently Asked Questions

What is the minimum down payment for first-time buyers?

Conventional loans allow as low as 3% down for first-time buyers; FHA loans require 3.5%; VA and USDA loans offer 0% down options.