Down Payment Calculator
Calculate the down payment needed to buy a home at a given price, or find the maximum home price you can afford with a target down payment percentage.
How to use the Down Payment Calculator
- Enter your inputs into the Down Payment Calculator above.
- Results update instantly as you type — no submit button needed.
- Adjust any value to see how the result changes in real time.
The down payment math
Down payment = Price × down %; Affordable price = Available cash / down %
Conventional loans typically require 5–20% down. FHA allows 3.5%, VA and USDA allow 0%. Going below 20% on a conventional loan usually triggers PMI.
Worked example
To buy a $400,000 home with 20% down: $80,000 needed (plus closing costs of ~3–4% = $12,000–16,000 more). With $50,000 in cash savings, the max purchase price at 20% down is $250,000 — or about $500,000 at 10% down (with PMI).
Frequently asked questions
Is 20% down really required?
No — most lenders accept 3–10% down on conventional, 3.5% on FHA, 0% on VA/USDA. 20% is the threshold for avoiding PMI on conventional loans, not for getting approved.
Should I put down more than 20%?
Mostly a preference. Larger down payment means smaller loan and lower payment. The math on the marginal dollar (mortgage rate vs. expected investment return) is the deciding factor for most savers.
What other costs come with closing?
Closing costs typically run 2–5% of the home price: title insurance, appraisal, taxes, recording, inspection, prepaid interest, escrow setup. Plan for them on top of down payment.