Planning estimate only, not financial, tax, or legal advice. Verify assumptions and current rules before making decisions.
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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
Is cash to close just the down payment?
Usually not. Closing costs, prepaid items, reserves, credits, and prior deposits can change the final amount.
Does 20% down always eliminate mortgage insurance?
No. Rules differ by mortgage program and lender; the tool only flags planning LTV above 80%.
Does this calculate the monthly payment?
No. It intentionally focuses on upfront cash, loan amount, LTV, and remaining reserves; use the Mortgage Payment Calculator for monthly housing cost.
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