Down Payment Calculator
Calculate your down payment amount and see how long it will take to save.
About Down Payments
A down payment is the upfront cash you pay when purchasing a home. While 20% is the traditional standard to avoid PMI, many loan programs accept as little as 3-3.5% down (FHA loans require 3.5%, conventional loans as low as 3%). A larger down payment means a smaller mortgage, lower monthly payments, and less interest over the life of the loan. Consider closing costs (2-5% of the home price) when calculating how much cash you need at closing.