Down Payment Calculator
Calculate how much down payment you need and how it affects your loan
Loan Details
Typical: 5.5% - 8%
Loan Summary
Loan Details
Financial Disclaimer
This calculator provides estimates for informational purposes only. Actual loan terms, rates, and payments may vary. This is not financial advice. Consult with a qualified financial advisor or lender for specific guidance. PayoffCalculator.io is not a lender and does not provide loans.
How to Use This Down Payment Calculator
Enter the home price, desired down payment (amount or percentage), interest rate, and loan term. See how different down payment amounts affect your monthly payment and whether you'll need PMI.
Understanding Down Payment Loans
Your down payment affects your loan amount, monthly payment, interest paid over time, and whether you need PMI. A larger down payment means lower monthly costs but requires more cash upfront.
Tips for Getting the Best Down Payment Rate
Balance down payment with maintaining an emergency fund. Consider down payment assistance programs. If you can afford 20%, you'll save significantly by avoiding PMI.
Frequently Asked Questions
While 20% avoids PMI, many loans allow 3-5% down. FHA loans require 3.5% minimum, VA loans may require 0%, and conventional loans vary by lender and credit score.