Down Payment Calculator
See how different down payment amounts affect your monthly payment and costs.
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A larger down payment reduces your loan amount, monthly payment, and total interest paid. Putting down less than 20% typically requires private mortgage insurance (PMI), which adds to your monthly cost. This calculator estimates PMI at 0.55% of the loan amount annually (rates vary by lender and credit score). Conventional loans require as little as 3% down, FHA loans 3.5%, and VA/USDA loans may allow 0% down. Consult a lender for specific program requirements.
Disclaimer: This calculator is provided for educational purposes only and does not constitute a loan offer, rate quote, or financial advice. Results are estimates based on standard formulas and the inputs provided. Actual loan terms depend on credit history, income, property type, loan program, and lender guidelines. Consult a licensed mortgage professional for personalized advice.