Down Payment Calculator
The down payment is the share of the purchase price you pay up front; the mortgage covers the rest. Enter a price and percentage to see the cash required at closing, including typical closing costs.
Enter your figures below. Results update as you type.
Down payment$80,000.00
- Down payment 20%
- Mortgage 80%
- Closing costs
- $12,000.00
- Cash needed at closing
- $92,000.00
- Loan amount
- $320,000.00
| Down | Down payment | Loan amount |
|---|---|---|
| 3% | $12,000.00 | $388,000.00 |
| 3.5% | $14,000.00 | $386,000.00 |
| 5% | $20,000.00 | $380,000.00 |
| 10% | $40,000.00 | $360,000.00 |
| 15% | $60,000.00 | $340,000.00 |
| 20% | $80,000.00 | $320,000.00 |
| 25% | $100,000.00 | $300,000.00 |
How the Down Payment calculation works
Down payment = home price x down %; cash to close = down payment + closing costs
Closing costs commonly run 2% to 5% of the purchase price and cover lender fees, title insurance, appraisal and prepaid taxes. The comparison table shows how the loan amount changes from 3% to 25% down.
Frequently asked questions
Do I need 20% down?
No. Conventional loans allow as little as 3% down and FHA loans 3.5%. Putting down less than 20% normally adds mortgage insurance to the monthly payment.
Is a bigger down payment always better?
It lowers the payment and total interest, but ties up cash. Many buyers keep three to six months of expenses in reserve before increasing the down payment.
How do I calculate a down payment on a house?
Multiply the purchase price by the percentage you plan to put down. 10% of a $400,000 home is $40,000. Add closing costs, typically 2% to 5% of the price, to find the cash you need on closing day.
How do I work out my down payment as a percentage?
Divide the down payment by the purchase price and multiply by 100. Putting $60,000 down on a $400,000 home is 15%.
What is the minimum down payment for a house?
It depends on the loan. Conventional loans start at 3% for eligible buyers, FHA loans at 3.5% with a credit score of 580 or higher, and VA and USDA loans allow 0% for borrowers who qualify. Lenders can set stricter requirements.
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