Down Payment Calculator
Calculate the down payment amount needed for a home based on purchase price and percentage.
Down Payment Calculator
Calculate upfront payment and loan amount
Down Payment = Home Price × Down Payment % / 100 No calculations yet.
How to Calculate
Down Payment = Home Price × (Down Payment% ÷ 100)
Down Payment Amount = Purchase Price × (Down Payment % ÷ 100). Loan Amount = Purchase Price − Down Payment Amount.
* Example: $300,000 home, 20% down → $60,000
Step-by-Step Manual Calculation Guide
Step 1: Divide down payment percentage by 100 (e.g., 20% = 0.20).
Step 2: Multiply home purchase price by down payment decimal to find cash required.
Step 3: Subtract down payment cash from home price to determine total mortgage loan balance.
Real-World Industry Applications
First-Time Home Purchase
Calculating a 10% down payment on a $350,000 house ($35,000 cash down, $315,000 mortgage loan).
PMI Avoidance Strategy
Determining 20% down payment ($80,000 on a $400,000 home) required to avoid monthly PMI payments.
FHA Loan Qualification
Computing minimum 3.5% FHA down payment ($10,500 on a $300,000 property).
Down Payment Calculator Worked Examples
How it Works
The Down Payment Calculator computes upfront cash required when purchasing real estate, along with mortgage loan amount and private mortgage insurance (PMI) thresholds.
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Frequently Asked Questions
What is a standard down payment percentage for a house?
Standard conventional down payments range from 3% to 20%. Putting 20% down eliminates Private Mortgage Insurance (PMI).
How much is a 20% down payment on a $400,000 home?
A 20% down payment on a $400,000 home is $80,000 cash, leaving a mortgage balance of $320,000.
What is PMI and how do I avoid it?
Private Mortgage Insurance (PMI) is a lender fee charged when down payment is under 20%. Put 20% down or refinance once home equity reaches 20% to eliminate it.
Does down payment cover closing costs?
No, closing costs (typically 2% to 5% of loan amount) are additional fees paid at closing on top of your down payment.
What is the minimum down payment for an FHA loan?
FHA loans require a minimum down payment of 3.5% for borrowers with a credit score of 580 or higher.