About the Down Payment Calculator
A down payment is the part of a home's price you pay up front, with a mortgage covering the rest. This calculator works three ways. Enter a percentage to see the amount and the loan you would need. Enter an amount to see what percentage it is. Or set a target and a timeline to see how much to save each month, with an optional yearly return on your savings. Each result also shows a typical range for closing costs and whether the down payment is under the 20 percent level that often triggers mortgage insurance in the United States.
Updated October 2026
How to use the Down Payment Calculator
- 1Choose whether to find the amount, the percentage or a monthly savings plan.
- 2Enter the home price.
- 3Enter the percentage or the amount you plan to put down.
- 4For a savings plan, add what you have saved, the months you have and any yearly return.
- 5Read the result and the closing cost range, then press Copy result.
How the down payment shapes your mortgage
The down payment decides how much you borrow. Every extra amount you put down reduces the loan, the monthly payment and the interest paid over the term. It also builds instant equity in the home. Putting everything you have into the down payment can leave little cash for repairs and emergencies, so keep a reserve.
What to budget besides the down payment
- Closing costs, often 2% to 5% of the price
- Moving costs and immediate repairs
- Furniture and appliances
- An emergency fund of several months of expenses
- Ongoing property tax, insurance and maintenance
Planning a savings goal
The savings plan mode works backwards from your target. If you set a 20 percent target on a 350,000 home and have 10,000 saved with 36 months to go, it shows the monthly amount needed. Interest on savings reduces that amount a little. If the figure is too high, extend the timeline or choose a lower percentage and see how the loan changes.
Related tools
Use the Mortgage Calculator to see the monthly payment for the loan left after your down payment, the Savings Goal Calculator for general saving plans and the Budget Calculator to check what you can afford. The Debt-to-Income Calculator shows how a mortgage fits with your other debts, and the Loan Calculator covers non-home loans.
Features
- Down payment amount from a percentage
- Down payment percentage from an amount
- Monthly savings needed to reach a target
- Optional return on savings
- Loan amount after the down payment
- Closing cost range of 2% to 5%
- Hint when the down payment is under 20%
- Currency symbol picker
Frequently asked questions
How much should I put down on a house?
Many buyers aim for 20 percent, which usually avoids mortgage insurance in the United States, but lower down payments are common and some loans accept 3 to 5 percent. The right amount depends on your savings, loan type, rate and how much monthly payment you can carry.
How do I calculate a down payment?
Multiply the home price by the percentage. A 350,000 home with 20 percent down needs 70,000, leaving a loan of 280,000. Use the first mode and enter the price and percentage.
What is mortgage insurance and why does 20 percent matter?
In the United States, lenders usually require private mortgage insurance on conventional loans when the down payment is below 20 percent. It protects the lender and adds to your monthly cost. Rules vary in other countries, so check with your lender.
Are closing costs part of the down payment?
No. Closing costs, such as lender fees, taxes and legal charges, are separate. They are often around 2 to 5 percent of the price in the United States, and the calculator shows that range so you can budget for it on top of the down payment.
How much do I need to save each month?
Choose the savings plan mode, enter the price, your target percentage, what you have saved and how many months you have. The calculator divides the remaining amount over the months, and can include a yearly return if your savings earn interest.
Does a bigger down payment lower my interest?
A larger down payment reduces the amount you borrow, which lowers the monthly payment and total interest. Lenders may also offer better rates when you put more down, because a lower loan-to-value ratio carries less risk for them.