Down Payment Calculator
Find out how much cash you need to put down and what your monthly payment will be.
Example down payments
How this calculator works
The down payment is the home price times your percentage, and the loan is the rest. Monthly principal and interest use the standard mortgage formula. If you put down less than 20 percent, lenders usually charge mortgage insurance, which we estimate at 0.5 percent of the loan per year. Real insurance cost depends on credit score and loan type. Property tax and homeowners insurance are not included.
FAQ
Do I need 20 percent down?
No. Many loans accept 3 to 5 percent down, but you may pay mortgage insurance.
What else do I need cash for?
Closing costs, moving and repairs are extra, often 2 to 5 percent of the price.
Do bigger down payments lower my rate?
Often they help, since the lender takes less risk.
Rates and limits last updated: October 2026. This is an estimate for general information only, not financial, tax or legal advice.