💵Down Payment Calculator
Enter a home price and a down payment percentage to see your down payment in dollars, your loan amount, and whether you will need PMI.
Last updated: · Reviewed by The CalcWise Team
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How to use this calculator
- Enter the price of the home you are considering.
- Enter the down payment percentage you plan to put down.
- Calculate to see the dollar amount, your loan size, and your PMI status.
How it works
The down payment is the cash you pay upfront; the rest is financed. A larger down payment means a smaller loan, lower monthly payments, and less interest over time.
The 20% threshold matters: put down 20% or more and you usually avoid Private Mortgage Insurance (PMI), which can add hundreds of dollars to your monthly payment until you reach 20% equity.
Example: On a $350,000 home, a 20% down payment is $70,000, leaving a $280,000 loan and no PMI. At 10% down, you would pay $35,000 upfront but owe $315,000 and likely pay PMI.
Frequently asked questions
How much should I put down on a house?
20% avoids PMI and lowers your payment, but many buyers put down less. The right amount balances upfront cash, monthly affordability, and keeping an emergency fund.
What is the minimum down payment?
It varies by loan type — some conventional loans allow as little as 3%, and certain government-backed loans allow 0%. Lower down payments usually mean PMI and higher rates.