Calculate required down payment and savings goal
For homebuyers planning down payment: determine required down payment for different loan programs and create a savings roadmap.
Down Payment Calculator
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Create Free AccountWhat it does
The Down Payment Calculator shows required down payment percentages for different loan programs (conventional 5-20%, FHA 3.5%, VA 0%, USDA 0%) and calculates the specific dollar amount needed at your target purchase price. See savings goals for each program and understand trade-offs between down payment size and PMI obligations.
Down payment size dramatically impacts total mortgage cost through PMI requirements — saving an extra 5-10% for down payment often eliminates years of PMI payments and saves tens of thousands in interest. This calculator quantifies the benefit of delaying purchase to accumulate larger down payments.
Who it's for
- Savers creating down payment goals and timelines for mortgage qualification
- First-time homebuyers comparing different loan programs and down payment requirements
- Financial advisors helping clients establish savings plans for home purchases
- Real estate agents explaining down payment alternatives and comparing program requirements
How it works
Enter target purchase price
The home price you're targeting.
Select loan program
FHA, conventional, VA, USDA, or jumbo.
Calculate down payment and total cash needed
Down payment plus closing costs is your total cash requirement.
Why it matters
Calculate down payment for FHA (3.5%), conventional (3–20%), VA (0%), USDA (0–3%)
See total cash needed at closing including closing costs
Model different savings timelines to reach your goal
Identify whether you should wait or buy now with lower down
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Frequently asked questions
Can I save money on down payment using FHA vs conventional?
Yes — FHA: 3.5% down; conventional: 5–20% down. But FHA adds MIP annually; conventional below 20% adds PMI. Model both.
Are there down payment assistance programs?
Many: grant programs, employer assistance, lender specials for teachers/healthcare/first-time buyers. Research your area.
Should I borrow down payment from retirement?
Risky — retirement withdrawals trigger taxes and penalties. 401k loans are safer than early withdrawal. Explore assistance first.
What's included in closing costs?
Appraisal, origination, title, attorney, insurance, recording fees. Typically: 2–5% of loan amount. Seller often contributes 2–3%.
Is this calculator free to use?
Yes — create a free Investor Starter account to run 1 calculator per day. No credit card required. Upgrade to Core ($49/mo) for unlimited access to all 67 calculators.
How accurate are the results?
Results are only as accurate as your inputs. The formulas use industry-standard real estate investment math. Always verify with a licensed professional before committing capital.
Related calculators
Home Affordability Calculator
Find the maximum purchase price you can qualify for based on income, debts, and down payment.
Open calculatorMortgage Insurance (PMI) Calculator
Calculate monthly PMI cost and when it can be removed based on equity build-up.
Open calculatorLoan-to-Value (LTV) Calculator
Determine LTV ratio, required down payment, and whether PMI applies at your target price.
Open calculatorFHA Mortgage Calculator
Calculate FHA loan payments including the upfront MIP and annual mortgage insurance premium.
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