Down Payment Calculator
Calculate your down payment amount, remaining loan balance, and whether PMI is required.
Calculator
Results
How to Use
- Enter the total home price
- Enter your desired down payment percentage
- Click Calculate to see the results
- Review the down payment amount in dollars
- Check the remaining loan amount you will need to borrow
- See whether PMI is required based on your down payment
FAQ
What is PMI?
Private Mortgage Insurance (PMI) is insurance that protects the lender if you default on your loan. It is typically required when your down payment is less than 20% of the home price.
What is the ideal down payment percentage?
Putting down 20% or more avoids PMI and reduces your monthly payment. However, many buyers put down as little as 3-5% with FHA or conventional loans.
Does this calculator include closing costs?
No. Closing costs are separate and typically range from 2-5% of the home price. Budget for both the down payment and closing costs.
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