What is a down payment?
A down payment is the portion of a home’s purchase price you pay upfront in cash (or equity). The rest is typically financed with a mortgage. Down payment percentage is cash ÷ purchase price. Loan amount is roughly purchase price minus down payment (before closing costs and other fees).
How it works
Pick the mode that matches what you know: price and percent, price and cash amount, or cash and percent (to solve for price). The calculator links those three numbers so changing one updates the related fields. It focuses on down payment math — not interest rates, PMI premiums, or closing-cost quotes.
Formula
How to use Down Payment Calculator
- Choose whether you are solving from price + percent, price + cash, or cash + percent.
- Enter the two known values.
- Read the missing figure: cash needed, percent down, or target home price.
- Note the implied loan amount (price minus down payment) as you compare scenarios.
Worked examples
Concrete numbers and cases you can check against the tool above.
20% down on a $425,000 home
Cash needed = 0.20 × 425000 = $85,000, before closing costs. If you only have $50,000, that is 11.8% down and a $375,000 loan. Solve for price: $50,000 / 0.20 = a $250,000 home at a true 20% down.
5% vs 10% down on a $350,000 purchase
At 5%: $17,500 down and about a $332,500 loan. At 10%: $35,000 down and about a $315,000 loan. Doubling the down payment cuts $17,500 from the loan amount. Monthly payment impact depends on rate and term — use the mortgage calculator for that; this page stays on down payment math.
How changing the down payment affects the loan
A larger down payment lowers the loan amount dollar-for-dollar (before fees). On a $400,000 home, 5% down is $20,000 cash and about a $380,000 loan; 20% down is $80,000 cash and about a $320,000 loan. The smaller loan usually means a lower monthly principal-and-interest payment, but you also need more cash at closing. This page does not quote mortgage rates or monthly payments — use the mortgage calculator for payment estimates.
Closing costs are separate
Down payment is not the same as cash to close. Closing costs, prepaid items, and reserves can add substantially beyond the down payment. Budget for those separately; this calculator intentionally focuses on purchase price, percent, and down payment cash.
When to use Down Payment Calculator
Listings are quoted as prices; savings accounts are cash. Translating between percent down, dollars down, and a realistic purchase price prevents shopping for homes that require more cash than you have — or underestimating how much a 20% down target actually is.
Common use cases
- Find the cash needed for 20% down on a listing price.
- See what purchase price you can target with a fixed savings balance at 10% or 20% down.
- Compare 5% vs 10% vs 20% down on the same home.
- Prepare clear numbers before a lender or agent conversation.
Inputs and outputs
- Home purchase price, down payment percent, and cash amounts
- Implied loan amount as price minus down payment
Privacy
This tool runs entirely in your browser. Your figures never leave your device — nothing is uploaded to our servers.
Frequently asked questions
- How much down payment do I need?
- It depends on the loan program and lender. Some loans allow relatively low down payments; putting 20% down on a conventional loan often avoids private mortgage insurance (PMI). Confirm requirements with a lender — this tool only does the arithmetic.
- Does this include mortgage rates?
- No. It does not estimate interest rates or monthly payments. It solves down payment amount, percent, and related purchase-price math only.
- Does this include closing costs?
- No. It focuses on down payment math. Plan separately for closing costs and reserves.
- Is my data private?
- Yes. Calculations run locally in your browser.