About the Down Payment Calculator
Calculate the down payment and cash needed to buy a home, and how long it will take you to save it. This tool is free, works in your browser and needs no sign-up.
How to use the Down Payment Calculator
Enter the home price, down payment percent, closing costs, what you have saved, how much you save each month and the return on savings.
Formula used
Down payment = price × percent. Cash needed = down payment + closing costs. The tool adds monthly savings and interest until the goal is reached.
Example
With Home price 350000, Down payment (%) 20, Closing costs (%) 3, Savings so far 15000, Saving per month 1500, the calculator shows: Down payment = 70,000.00; Loan amount = 280,000.00; Closing costs = 10,500.00.
Frequently asked questions
How much should I put down on a house?
Many buyers put down 20% to avoid private mortgage insurance, but loans exist with 3% to 5% down. A smaller down payment means a larger loan and more interest.
Is the Down Payment Calculator free to use?
Yes. It is completely free and you can use it as many times as you like.
How accurate is the Down Payment Calculator?
The calculator uses standard formulas, so the maths is exact. Real life results can differ because of fees, taxes, rounding or personal factors, so treat the answer as an estimate.
Do you store the numbers I enter?
No. All calculations run in your browser. The values you type are not sent to our server.
Disclaimer: results are estimates for information only. They are not financial, medical or professional advice.