Down Payment Calculator
Find your down payment amount and PMI status.
🏠 Under 20% down usually requires PMI ($50-300/month). 20%+ avoids this cost entirely.
What Is This Tool?
The down payment is the upfront cash you pay toward a home; the rest becomes your mortgage. This calculator shows the dollar amount and whether you'll need PMI.
The 20% Threshold
Putting down 20% or more means avoiding PMI (Private Mortgage Insurance), which typically costs $50-300/month. On a $400,000 home, that's $80,000 down to avoid PMI entirely.
Lower Down Payment Options
- Conventional: As low as 3% down (with PMI)
- FHA loans: 3.5% down (first-time buyers)
- VA/USDA: 0% down (qualified buyers)
Don't Empty Your Savings
Bigger down payments mean smaller loans and no PMI — but don't drain your emergency fund to get there. Lenders want to see reserves after closing.
Frequently Asked Questions
When does PMI go away?
For conventional loans, PMI cancels automatically at 78% loan-to-value, or you can request removal at 80%. FHA loans (post-2013) require PMI for the life of the loan unless refinanced.
About the Down Payment Calculator
The Down Payment Calculator lets you figure out down payment calculatorinstantly, without reaching for a spreadsheet or doing the math by hand. Whether you're planning a budget, checking a loan, or working through homework, the tool applies the correct formula behind the scenes and shows the result the moment you enter your numbers.
Unlike a static chart or table, this calculator adapts to your exact inputs. You can adjust any value and see the outcome update in real time, which makes it easy to compare scenarios — for example, "what if the rate were 1% lower?" or "what if I paid an extra $50 a month?"
How to Use This Tool
- Enter the main values the calculator asks for (for example, amount, rate, and time).
- Pick the right unit or option where the tool offers a choice.
- Read the result, which appears instantly below the inputs.
- Adjust any field to test a different scenario — the answer updates without a reload.
- Copy or note the result. Nothing is stored, so close the tab when you're done.
Why Use an Online Calculator?
Browser-based tools like this one have a few real advantages over installed software or manual methods:
- No installation. It opens instantly in any browser, on any operating system.
- Private by default. Everything runs locally, so your data stays on your device.
- Always up to date.There's nothing to update — you always get the latest version when you load the page.
- Free and unlimited. Use it as often as you like, with no account and no caps.
Related Tools
More tools you might find useful
Retirement Calculator
Project your retirement savings with compound growth.
Simple Interest Calculator
Calculate simple interest with the I = Prt formula.
Commission Calculator
Calculate sales commission plus base salary.
HTML Escape
Escape HTML special characters to prevent XSS attacks.
URL Decoder
Decode percent-encoded URLs back to text.
Percentile Calculator
Find the value at any percentile of your data.