Why Use This Down Payment Calculator
Saving for a down payment is one of the biggest challenges for homebuyers. This down payment calculator helps you:
- 💰 Calculate Your Down Payment — see exactly how much you need.
- 📊 Understand Your Monthly Payment — see how your down payment affects your mortgage.
- 📉 See PMI Impact — understand if you’ll need PMI.
- 📈 Visualize Your Purchase — see your down payment vs loan amount.
- 📜 Track Your History — save, review, and export past calculations.
- 🔒 100% Private — all calculations run locally.
How Down Payment Is Calculated
Down Payment Amount = Home Price × (Down Payment % / 100)
Loan Amount = Home Price − Down Payment Amount
Monthly Payment = Loan Amount × (Monthly Rate × (1 + Monthly Rate)^n) / ((1 + Monthly Rate)^n − 1)
PMI = Loan Amount × (PMI Rate / 100) ÷ 12 (if down payment < 20%)
How to Use This Down Payment Calculator
- Select your account currency from the picker in the site header.
- Enter the home price.
- Enter your down payment percentage.
- Enter the interest rate, loan term, property tax, insurance, and PMI rate.
- View your results instantly — see your down payment, loan amount, and monthly payment.
Frequently Asked Questions
What is a down payment?
A down payment is the amount of money you pay upfront when buying a home. It’s typically a percentage of the total home price.
How much down payment do I need?
A 20% down payment is ideal to avoid PMI, but many programs allow as little as 3-5%. This calculator helps you find your exact amount.
What is PMI and when do I pay it?
Private Mortgage Insurance (PMI) is required when your down payment is less than 20%. It protects the lender if you default. You can request cancellation once you reach 20% equity.
Is my data stored anywhere?
No. All calculations run locally in your browser. History and presets are saved in your browser’s localStorage — nothing is sent to a server.