Down Payment Calculator
Work out the down payment amount and loan needed for a given home price.
Results update as you type.
About this calculator
A down payment calculator turns a home price and a down payment percentage into the cash you need up front and the loan you must finance. It also adds estimated closing costs to show the total cash needed at closing, and flags whether you are likely to owe private mortgage insurance (PMI).
The maths is direct: down payment = price × percent, and the loan is the rest. On a 350,000 home, a 20% down payment is 70,000, leaving 280,000 to finance; with closing costs of, say, 3% (10,500), you would need about 80,500 in cash at closing. Because the down payment here is 20% or more, no PMI is flagged — drop below 20% and the tool warns that PMI is likely.
Use it to work out how much to save before buying, to compare a 5%, 10% and 20% down payment side by side, or to see how a bigger deposit shrinks both the loan and the monthly payment. A larger down payment lowers interest paid and can remove PMI, but keep enough cash in reserve for moving costs and emergencies.
Frequently asked questions
How much down payment do I need?
It depends on the loan, but 20% avoids mortgage insurance on a conventional loan, while many programs allow 3–5%. On a 350,000 home, 20% is 70,000 down and 280,000 financed.
What is PMI and when do I pay it?
Private mortgage insurance protects the lender when your down payment is under 20%. It is an added monthly cost that usually falls away once you build 20% equity, so a bigger down payment can remove it entirely.
What are closing costs and how much are they?
Closing costs are the fees to finalise a purchase — lender charges, title, appraisal, taxes and more — and typically run about 2–5% of the price. They are separate from the down payment, so enter a percentage to see the full cash you need at closing.
Is a 20% down payment required?
No. Twenty percent avoids PMI on a conventional loan and lowers the payment, but many loan programs accept far less — commonly 3–5%, and some government-backed loans even less. A smaller down payment gets you in sooner at the cost of PMI and more interest.
How much should I put down?
Enough to keep the payment comfortable and, ideally, to reach 20% and skip PMI — but not so much that you drain your emergency fund. Weigh the interest and PMI you save against keeping cash on hand for repairs and unexpected costs.
Does a bigger down payment lower my monthly payment?
Yes. A larger down payment means a smaller loan, so both the monthly principal and interest and the total interest over the loan drop. Getting to 20% also removes the monthly PMI charge, lowering the payment further.
API — use this calculator from code
Call this calculator as a free JSON endpoint — no key required. Send the field values below as query parameters or JSON. Read the full API docs →
Endpoint
GET https://calculator.free/api/v1/down-payment/curl
curl "https://calculator.free/api/v1/down-payment/?price=350000&percent=20"JavaScript fetch()
const r = await fetch(
"https://calculator.free/api/v1/down-payment/?" + new URLSearchParams({
"price": "350000",
"percent": "20"
}));
const data = await r.json();
console.log(data.results);Results are estimates for general guidance only, not financial, medical or tax advice.