Down Payment Calculator for Your Home Purchase
This down payment calculator shows the full financial picture behind your upfront cash: enter a purchase price and percentage to see your down payment amount, loan balance, monthly mortgage payment, and whether PMI applies. It is built for home buyers comparing how much to put down, but the core math works for a car or any large financed purchase too.
A down payment is the cash you pay upfront when buying a home, and the rest becomes your mortgage. Its size directly drives your monthly payment, your total interest, and whether you owe Private Mortgage Insurance (PMI) — an extra monthly fee lenders charge when you put down less than 20%.
How to Use the Down Payment Calculator
Enter the purchase price
Type the total price of the property, or drag the Purchase Price slider. The value formats automatically in your selected currency as you go.
Set your down payment percentage
Adjust the Down % slider or type a percentage, or tap a preset button (5%, 10%, 15%, 20%) to compare common options. Results update in real time.
Adjust the interest rate and loan term
Set the annual Interest Rate and Loan Term to match your expected mortgage. Use the term presets (10, 15, 20, 30 years) for quick comparisons.
Review and compare your results
Read the summary cards for down payment, loan amount, monthly payment, and PMI, then use the scenario table to compare 5%, 10%, 15%, and 20% side by side.
Plan your savings (optional)
Open the Savings Plan section, enter how much you can save each month, and see how long it takes to reach your down payment, plus a target date and progress bar.
Features
Real-Time Calculation
Every change to price, percentage, rate, or term instantly recalculates the down payment, loan, monthly payment, PMI, and scenario table — no calculate button needed.
Monthly Payment Math
Your monthly principal-and-interest payment is computed with the standard amortization formula from your loan amount, rate, and term.
PMI Analysis
PMI is flagged automatically when you put down under 20%, using tiered rates by loan-to-value: 0.5% up to 90% LTV, 0.8% up to 95%, and 1% above 95%.
PMI Duration Alert
When PMI applies, an alert shows the monthly cost, how long until it drops off at 80% balance, and the total PMI you would pay over that period.
Scenario Comparison Table
Compare 5%, 10%, 15%, and 20% down side by side — each row shows the down payment, monthly payment, PMI, total interest, and total cost.
Cost Breakdown Chart
A doughnut chart splits your total cost into down payment, loan principal, and total interest. Hover any slice to see the exact amount and its share.
Savings Timeline
Enter what you can save monthly and the collapsible Savings Plan estimates the months or years to your goal, a target date, and a progress bar.
Adjustable Loan Term
Set any term with the slider or jump to a preset (10, 15, 20, or 30 years) to see how the length changes your monthly payment and total interest.
Multi-Currency Support
Switch currencies with the built-in picker and every input default, slider range, summary card, and table value reformats to match.
Sliders and Direct Input
Drag a slider for a quick feel or type an exact figure — price, percentage, rate, term, and savings each stay in sync both ways.
Frequently Asked Questions
How much down payment do I need for a house?
The conventional benchmark is 20% to avoid PMI, but many buyers put down as little as 3–5%. Use the scenario table to see how each percentage changes your monthly payment and total cost: a smaller down payment lets you buy sooner but costs more over time through higher payments and PMI.
What is a 20% down payment and how does it avoid PMI?
Putting 20% down means your loan starts at 80% of the price, so lenders do not require Private Mortgage Insurance. PMI is an extra monthly fee (about 0.5%–1% of the loan per year) charged only when you put down less than 20%, and it drops off once your balance falls to 80% of the original price.
How do I calculate a down payment from price and percentage?
Multiply the purchase price by the down payment percentage: a 10% down payment on a $300,000 home is $30,000, leaving a $270,000 loan. This calculator does it for you the moment you enter the price and slide the percentage, and also shows the resulting loan amount, monthly payment, and PMI.
How is the monthly payment calculated?
It uses the standard amortization formula M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where P is the loan amount, r is the monthly interest rate, and n is the total number of payments. The result is the fixed monthly principal-and-interest payment — property taxes and insurance are not included.
Does this calculator include property taxes and insurance?
No. It focuses on the mortgage payment (principal and interest) plus PMI. Property taxes, homeowner's insurance, and HOA fees vary by location and are not included, so your actual total monthly housing cost will be higher than the figure shown.
How accurate are the PMI estimates?
The rates are industry averages by loan-to-value: 0.5% up to 90% LTV, 0.8% up to 95%, and 1% above 95%. Actual PMI depends on your credit score, loan type, and lender, so treat the figure as an estimate and ask your mortgage provider for an exact quote.
Can I use this for a car down payment?
Yes. The core inputs — purchase price, down payment percentage, interest rate, and term — work for any large purchase, including a car. PMI is a mortgage-specific feature, so simply ignore the PMI card and alert for a non-home loan.
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