Down Payment Calculator
Calculate the required down payment amount for a home purchase
About This Calculator
The Down Payment Calculator determines how much you need for a home down payment based on the home price and down payment percentage. This helps you plan your home purchase budget.
How It Works
- 1
Enter the total home purchase price.
- 2
Input your desired down payment percentage (typically 3-20%).
- 3
The calculator computes the down payment amount and remaining loan amount.
Formula Explanation
Down Payment = Home Price × (Down Payment % / 100)Multiply the home price by the down payment percentage (as a decimal) to get the down payment amount.
Loan Amount = Home Price - Down PaymentSubtract the down payment from the home price to get the amount you need to finance.
Tips
A 20% down payment typically avoids PMI (Private Mortgage Insurance).
First-time homebuyer programs may allow lower down payments (3-5%).
Larger down payments reduce monthly mortgage payments and total interest.
Don't forget to budget for closing costs, which are separate from down payment.