Down Payment Calculator
Calculate your down payment amount and remaining loan amount from a purchase price and down payment percentage or fixed amount.
$
%
Down Payment
$70,000
20.0% of purchase price
Remaining Loan Amount
$280,000
How the Down Payment Calculator Works
Enter the purchase price of a home or big-ticket item along with either a down payment percentage or a fixed down payment amount. The calculator computes the missing value and shows the remaining loan amount you'll need to finance.
Remaining Loan Amount = Purchase Price − Down Payment
Example
On a $350,000 home with a 20% down payment, you'd put down $70,000 and finance the remaining $280,000. Putting down 10% instead would require $35,000 upfront, leaving $315,000 to borrow — a larger loan, likely with private mortgage insurance required.
Common Use Cases
- Planning how much cash you need saved before buying a home.
- Comparing loan amounts across different down payment scenarios.
- Checking whether a down payment clears the 20% threshold that avoids PMI on conventional loans.
- Budgeting for a car, boat, or other large purchase requiring a deposit.
FAQs
Why is 20% often mentioned for down payments?
On conventional US mortgages, putting down at least 20% typically avoids private mortgage insurance (PMI), an added monthly cost lenders charge to protect themselves on smaller down payments.
Can I buy a home with less than 20% down?
Yes — many loan programs allow 3-10% down, and some government-backed loans (FHA, VA, USDA) allow even less. You'll usually pay mortgage insurance until you build enough equity.
Does a bigger down payment always make sense?
Not always. A larger down payment reduces your loan and interest costs, but tying up more cash upfront means less liquidity for emergencies or other investments — weigh both sides before deciding.