The three calculations below offer different ways to help calculate an estimated down payment based on your available cash, target home price, or desired loan structure.
• Method 1 (Cash Available): Start with your savings to find the maximum affordable purchase price.
• Method 2 (Home Price): Start with a dream home price to find out total upfront cash required (down payment + closing costs).
• Method 3 (Price & Cash): Check the resulting down payment percentage and whether Private Mortgage Insurance (PMI) applies.
If the amount of upfront cash available and down payment percentages are known, use the calculator below to calculate an estimate for an affordable home price.
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A down payment is the initial upfront portion of the total purchase price paid out of pocket in cash. The remaining balance is financed through a mortgage lender.
Putting down at least 20% eliminates the requirement for Private Mortgage Insurance (PMI) on conventional loans, saving $100 to $300+ in monthly premiums.
Many modern loan programs allow lower down payments: Conventional 97 (3%), FHA loans (3.5%), and VA or USDA loans (0% down payment for eligible borrowers).
Closing costs typically range between 2% and 5% of the purchase price (title fees, appraisal, loan origination, escrow reserves) and must be budgeted in addition to the down payment.
Calculate conventional mortgage monthly payments, PMI, and amortization.
Determine how much home you can afford based on income and DTI ratios.
Model 3.5% down financing with upfront and annual MIP premiums.
0% down payment financing and statutory VA funding fee calculations.