Upfront Cash Parameters
| Home Price | $0 |
| Down Payment | $0 |
| Closing Costs | $0 |
| Monthly Payment | $0 |
How to Use the Down Payment Calculator
Follow these simple steps to determine your maximum home-buying power based on the cash you have on hand today.
Enter the total liquid cash you have available for the entire home purchase.
Define your target down payment (typically 20% to avoid private mortgage insurance).
Toggle the closing cost checkbox (average is 3%) to ensure your budget stays realistic.
View your affordable home price and projected monthly principal and interest payments.
| Down Payment | $100,000 |
| Closing Costs | $15,000 |
| Down Payment + Closing | $115,000 |
| Loan Amount | $400,000 |
| Monthly Payment | $2,425 |
| Down Payment | $85,000 |
| Down Payment Percentage | 17.0% |
| Closing Costs | $15,000 |
| Loan Amount | $415,000 |
| Monthly Payment | $2,516 |
Since the down payment is less than 20%, most probably you will be asked to pay PMI Insurance.
Understanding Down Payments & Closing Costs
A down payment is the upfront portion required to finalize a major purchase like a home. After the down payment is paid, the remaining balance is amortized as a mortgage loan. For example, on a $250,000 home, a 20% down payment equals $50,000.
Don’t Forget Closing Costs
Closing costs are additional upfront fees including inspection, appraisal, and title insurance. A rough estimate for these costs is 3% of the purchase price, which is the default setting in our calculator.
Loan Types & Requirements
| Loan Type | Min. Down Payment | Key Note |
|---|---|---|
| Conventional | 3% – 20% | PMI required if under 20% |
| FHA | 3.5% | Requires upfront 1.75% MIP |
| VA / USDA | 0% | No down payment required |