Down Payment Calculator

Calculate how much you need for a down payment and compare how different percentages affect your monthly payment, total interest, and PMI.

How Much Down Payment Do You Need?

Conventional loans typically require 3-20% down. Putting 20% down avoids Private Mortgage Insurance (PMI). FHA loans allow as little as 3.5% down for buyers with a 580+ credit score.

Frequently Asked Questions

What is PMI and how do I avoid it?
Private Mortgage Insurance is required when your down payment is less than 20%. Reach 20% equity to cancel it.

Is a bigger down payment always better?
It lowers your payments and saves interest, but keep an emergency fund and do not drain all savings.

What low down payment programs are available?
FHA loans (3.5%), VA loans (0% for veterans), USDA loans (0% in rural areas), and state first-time buyer programs offer options below 20%.

Related: Mortgage Calculator | Home Equity Calculator