Down Payment Calculator
Turn a home price and a percentage into a deposit amount and the loan you would need.
How to use the Down Payment Calculator
- Enter the price of the home.
- Enter the down payment as a percentage of the price.
- See the deposit amount and the loan you would need.
- Check whether your percentage is likely to trigger mortgage insurance.
Down payment = Price × (percent ÷ 100) · Loan = Price − Down payment
About the Down Payment Calculator
The down payment is the slice of a home's price you pay upfront in cash; the rest is the mortgage. This calculator converts a price and a percentage into the actual deposit amount and the loan you would be left to borrow, which is the pair of numbers you need to plan a purchase. It also flags the well-known 20% threshold: put down less than that and most lenders add private mortgage insurance (PMI), a monthly cost that protects the lender and disappears once you build enough equity.
Seeing the deposit and loan together makes the trade-off concrete. A bigger down payment shrinks the loan, cuts the monthly payment and the total interest, and can lift you over the PMI line — but it also ties up cash you might need elsewhere. Running a few percentages shows exactly how much each extra point of deposit buys you in a smaller loan.
This handles the split cleanly; it does not add closing costs, moving costs or reserves, which are real parts of buying a home. To turn the resulting loan into a monthly figure use the mortgage calculator, to work back from your income use the home affordability calculator, and to plan saving the deposit use the savings goal calculator.
Frequently asked questions
How much should I put down?
20% is the classic target because it usually avoids private mortgage insurance and lowers your loan. But many buyers put down less to buy sooner; the calculator shows the deposit and loan for any percentage so you can compare.
What is PMI?
Private mortgage insurance is a monthly charge lenders add when your down payment is below about 20%. It protects the lender, not you, and typically falls away once you have built enough equity in the home.
Does a bigger down payment save money?
Yes. A larger deposit means a smaller loan, a lower monthly payment and less total interest, and it can remove PMI. The trade-off is having less cash on hand for other costs and emergencies.