Calculation details
Planning estimate only, not financial, tax, or legal advice. Verify assumptions and current rules before making decisions.
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What does this calculator estimate?
This down payment calculator shows how much you need upfront for a home purchase. Enter a home price and choose a down payment percentage or dollar amount. It calculates the resulting loan amount, down payment share of price, closing costs, and whether your available cash covers the estimated cash needed to close.
How does the down payment change the monthly payment?
A larger down payment reduces the loan amount directly, and crossing the 20% threshold on a conventional loan also removes private mortgage insurance, a second and larger step down. The calculator shows both effects separately so you can see whether stretching for 20% beats a slightly larger loan with PMI until appreciation crosses the line.
Should I drain savings for a bigger down payment?
Keeping an emergency fund usually beats maximizing the down payment. A purchase that strips reserves leaves the new homeowner exposed to the first repair bill or income gap. Lenders' minimums and PMI thresholds matter, but so does arriving with months of expenses intact; the right number protects the mortgage, not just shrinks it.
How this calculator works
Formula
Down payment is either home price × entered percentage or the fixed amount entered. Loan amount = price − down payment. LTV = loan ÷ price × 100. Cash to close estimate = down payment + price × closing-cost percentage.
Worked example
On a $400,000 home, 20% down is $80,000. With 3% estimated closing costs, cash to close is $92,000, the estimated loan is $320,000, and planning LTV is 80%.
Assumptions to verify
- Closing costs are estimated as a percentage of price and are not a lender quote.
- Seller credits, earnest money, reserves, prepaid items, and program-specific fees are excluded.
- The PMI flag is a planning cue only; mortgage-insurance rules depend on loan type and lender.
Frequently asked questions
How much down payment do I need for a house?
Multiply the home price by your chosen down payment percentage. You can also enter a specific dollar amount, as long as it does not exceed the home price.
What does this cash to close calculator include?
It compares your available cash with the down payment plus closing costs. Closing costs are calculated as the home price multiplied by the closing-cost percentage you enter.
How is loan-to-value calculated after a down payment?
Loan-to-value is the loan amount divided by the home price. The calculator first subtracts the down payment from the price to determine the loan amount.
Cite this tool
BoringToolsKit. “Down Payment Calculator.” boringtoolskit.com/down-payment-calculator/ (reviewed July 2026). Free to reference in articles, syllabi, and answer posts with a link.
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