Down Payment Calculator
Down payment and loan size from home price and percent, with insurance notes.
What it does
A down payment is the share of a home price paid upfront while a lender funds the rest. On a $400,000 home, 20% down means $80,000.00 at signing and a $320,000.00 loan. The tool above runs that split the moment values change.
Size matters because lenders price risk from it. Hitting 20% usually removes private mortgage insurance and opens the best rate sheets, while smaller shares like 5% or 3.5% keep monthly costs higher through insurance and interest. Federal guides from the CFPB walk through the same tradeoff with worked dollar figures.
Cash beyond the percent counts too. Closing costs, moving, and an emergency buffer sit on top of the down payment, so draining every dollar to reach 20% can backfire. Many buyers pick a lower percent on purpose and keep reserves intact.
Use this page to compare shares side by side. Type a price, move the percent, and read the loan left behind. Then carry that loan into a monthly payment estimate to see what each choice costs over time.
How to use
- Type the home price you are comparing.
- Set the down payment percent, such as 5, 10, or 20.
- Read the down payment first: that is cash due at signing before fees.
- Read the loan amount beside it: that is what the mortgage must cover.
- Repeat for a second percent to compare insurance and rate effects.
Formula
- price ($)
- Agreed purchase price of the home.
- percent (%)
- Share of the price paid upfront.
- loan ($)
- Price minus down payment, the amount borrowed.
The percent applies to the price only, never to price plus fees. Mortgage insurance, taxes, and closing costs stack on top of these two numbers.
Worked example
Example: $400,000 home at 20%
Defaults: price 400000, percent 20.
- Multiply: 400,000 x 20 = 8,000,000.
- Divide by 100: 8,000,000 / 100 = $80,000.00 down.
- Subtract: 400,000 minus 80,000 = $320,000.00 loan.
- Share reads 20% down.
- Tool shows $80,000.00, $320,000.00, 20% down.
Reference table
| Percent | Down | Loan |
|---|---|---|
| 5% | $20,000.00 | $380,000.00 |
| 10% | $40,000.00 | $360,000.00 |
| 15% | $60,000.00 | $340,000.00 |
| 20% | $80,000.00 | $320,000.00 |
Limits
- Price and percent only. Rate, term, taxes, and insurance need their own pages.
- Assumes the full percent lands as cash at signing.
- Low down payment programs add insurance the tool does not price.
- Rounds to cents; lenders round disclosures their own way.
Common mistakes
- Typing the loan amount where the price belongs.
- Forgetting closing costs on top of the down payment.
- Assuming 20% is mandatory; low down payment loans exist with insurance.
- Draining savings to hit 20% with nothing left for repairs.
- Comparing percents across different prices without converting to dollars.
Try it yourself
Quick checks. Answers sit tucked under each question.
$250,000 at 10%?
250,000 x 10 / 100 = $25,000.00 down, loan $225,000.00.
$500,000 at 5%?
$25,000.00 down, loan $475,000.00.
$200,000 at 3.5%?
$7,000.00 down, loan $193,000.00.
Questions
How much is 20% down on $400,000?
$80,000.00, leaving a $320,000.00 loan.
Is 20% required?
No. Many loans allow 5% or 3.5% with insurance added.
What is PMI?
Insurance that protects the lender on low down payment loans, paid monthly until equity grows.
Does a bigger down payment lower the rate?
Often, since lender risk falls. It always shrinks the loan and total interest.
Are closing costs included?
No. Plan 2 to 5% of price extra for fees on top.
Can the percent be zero?
Some VA and USDA loans allow it for qualifying buyers; most loans need cash down.