A free down payment calculator that compares 3% to 20% and shows when you'll have saved it.
See your down payment at every common percent, the loan it leaves, PMI, and when you'll have saved it.
Your numbers
Under 20% down, most conventional loans add PMI until you reach 22% equity.
Your result
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This free down payment calculator shows your down payment at every common percent, the loan it leaves, whether you'll pay PMI, and when you'll have saved it.
Pick a price and a percent, and the table shows 3% to 20% side by side with the monthly payment for each.
I built it because "you need 20% down" stops a lot of people from buying when they could, and 3% down costs more every month than they expect. Seeing every option at once makes the trade clear.
TL;DRKey takeaways
What is a down payment calculator?
A down payment calculator works out the cash you put toward a home's price, and the loan that's left. This one adds the PMI line and the months it takes to save.
How to use the down payment calculator
You need the price and the percent you're thinking about.
Your numbers stay in your browser.
A worked example
Here's the example the calculator loads when you press Try an example: a $400,000 home, 10% down, $15,000 saved, $1,000 a month saved, and a 6.5% rate.
- Amount
- $12,000
- Loan
- $388,000
- A month
- $2,452.42
- Amount
- $14,000
- Loan
- $386,000
- A month
- $2,439.78
- Amount
- $20,000
- Loan
- $380,000
- A month
- $2,401.86
- Amount
- $40,000
- Loan
- $360,000
- A month
- $2,275.44
- Amount
- $80,000
- Loan
- $320,000
- A month
- $2,022.62
The monthly figures are principal and interest on 30 years. Below 20%, PMI comes on top until you reach 22% equity.
How much to put down
There's no single right answer, only a trade.
Less down, sooner
3% or 3.5% (the FHA minimum) gets you in the door years earlier, with a bigger loan and PMI.
20% down, cheaper
No PMI and a smaller payment, but it can take years to save.
Keep a cushion
Whatever you pick, keep an emergency fund and the closing costs on top.
Mistakes to avoid
These are the ways a down payment plan goes wrong.
- Emptying savings for the down payment and leaving nothing for repairs
- Forgetting closing costs on top of the down payment
- Waiting for 20% while prices and rents rise faster than you save
- Not asking about first-time buyer programs in your area
The closing cost calculator shows the cash you need besides the down payment.
Who is the down payment calculator for?
It's for anyone saving to buy a home, and these tools cover the rest of the plan.
- Home affordability calculator – for the price you can carry
- Mortgage calculator – for the full monthly payment
- Closing cost calculator – for the cash on closing day
- Compound interest calculator – for growing your savings while you wait
- Rent affordability calculator – for what you pay while you save
Pick a percent you can save in a year or 2, and plan backward from there.
Plan your money with your AI
Take your numbers further in
Down Payment Calculator FAQs
Questions about the down payment calculator? Here's what to know.
A down payment calculator works out how much cash you put toward a home and the loan that's left.
This free one compares 3% to 20% and shows when you'll have saved it.
From $12,000 at 3% to $80,000 at 20%.
At 10% it's $40,000.
No, many loans take 3% to 5% down.
Under 20%, most conventional loans add PMI.
Private mortgage insurance protects the lender when you put less than 20% down.
It ends when your loan falls to 78% of the home's original value.
3.5% with a qualifying credit score.
FHA loans carry their own mortgage insurance.
Divide what's left by what you save a month.
With $25,000 to go at $1,000 a month, that's 25 months.
Keep an emergency fund first.
After that, more down means less interest and no PMI sooner.
I did.
I'm Navid Moazzez, and I made the down payment calculator as one of my free tools on navid.me.
More about me.
Navid Moazzez
AI business strategist & AI OS builder
Navid Moazzez helps creators and founders master AI and build their own AI Operating System (AI OS) to automate their business and life.
Navid.me is reader-supported. When you buy through links on this site, I may earn an affiliate commission. Learn more.
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