Down payment calculator
How much should you put down? Compare the standard options side by side — upfront cash, monthly payment, PMI, and what stays in your savings.
With 10% down, you'd put in
$40,000
- Loan amount
- $360,000
- Loan-to-value (LTV)
- 90.0%
- Monthly principal & interest
- $2,275.44
- Savings left after the down payment
- $20,000
Educational estimate only — program minimums are examples, not eligibility, and PMI premiums are not included. Verify options with licensed professionals.
| Down | Upfront | Monthly P&I | PMI | Savings left | Fits savings? |
|---|---|---|---|---|---|
| 3% | $12,000 | $2,452.42 | Likely | $48,000 | ✓ Yes |
| 5% | $20,000 | $2,401.86 | Likely | $40,000 | ✓ Yes |
| 10% | $40,000 | $2,275.44 | Likely | $20,000 | ✓ Yes |
| 20% | $80,000 | $2,022.62 | Usually not | -$20,000 | — No |
Three things people get wrong
The 20% myth
You don't need 20% down to buy a home. Many conventional loans allow 3% to 5%, and government-backed programs can go lower. 20% mainly matters because it avoids PMI.
What PMI changes
Put down less than 20% and lenders usually require private mortgage insurance. It adds to the monthly bill but goes away once you build enough equity — it's a trade-off, not a penalty.
Don't empty the account
Closing costs, moving, repairs, and an emergency cushion all come out of the same savings. A slightly smaller down payment that leaves you a buffer often beats a bigger one that leaves you broke.
Picked a down payment? Get the full monthly payment with taxes and insurance, or check what price range fits your budget.