Down Payment Calculator
Set your home buying goal and see exactly how much you need to save to reach your target down payment percentage.
- NOT FINANCIAL ADVICE
- EDUCATIONAL USE ONLY
- ESTIMATES ONLY
- PLANNING TOOL
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20% is standard to avoid PMI, but many buyers put down 3% to 5%.
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Mortgage Impact (Estimates)
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Goal Amount
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Still Needed
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Loan Amount
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Est. Monthly P&I
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The Importance of a Down Payment
A down payment is the initial upfront portion of the total amount due on a home purchase. It is usually given as a percentage of the purchase price.
How much should you put down?
- 20% Down: This is often considered the 'gold standard' because it allows you to avoid Private Mortgage Insurance (PMI), which can add hundreds to your monthly payment.
- Low Down Payment (3-5%): Programs like FHA or conventional low-down-payment loans make it easier to buy a home sooner, but they come with higher monthly costs due to PMI and larger loan balances.
- Cash Buyer: Some buyers choose to pay 100% upfront to avoid interest altogether and make their offers more competitive.
Regardless of the percentage you choose, having a clear savings goal is the first step toward homeownership.