Home purchase cash planner

Down Payment Calculator

Estimate how much cash you may need upfront, what home price your cash could support, and whether your down payment may fall below the common 20% mortgage insurance threshold.

Buyer cash insight Cash to close matters

Down payment and closing costs are separate cash needs.

Inputs

Choose the Down Payment Question

Use one mode at a time. The calculator updates automatically and keeps the formulas visible so the result is easy to verify.

Use upfront cash available

Upfront cash available Down payment target (%) Closing costs (% of price) Interest rate (%) Loan term (years)

Down payment estimate $0

Result will appear here.

Down payment$0

Closing costs$0

Cash to close$0

Loan amount$0

Down payment %0%

Monthly P&I$0

Mortgage insurance checkpoint

PMI note will appear here.

Formula used

Formula will appear here.

Method

How This Down Payment Calculator Works

The calculator separates the down payment from closing costs because they answer different questions. The down payment reduces the purchase price financed by the mortgage. Closing costs are additional upfront costs tied to the transaction and mortgage process.

For a known cash budget, the calculator divides available cash by the combined down payment rate and closing cost rate to estimate a possible home price. For a known home price, it multiplies the price by each rate to estimate cash needed.

Data and source notes: No live lender, property tax, insurance, or assistance-program data is used. The CFPB Loan Estimate explainer highlights monthly principal and interest, estimated total monthly payment, closing costs, cash to close, and mortgage insurance as items buyers should review in lender documents.

Source note

Check Your Loan Estimate

The CFPB Loan Estimate explainer notes that buyers should check estimated closing costs and cash to close, and that mortgage insurance is typically required when the down payment is less than 20% of the home price.

Review the CFPB Loan Estimate explainer.

Practical planning

What Buyers Should Compare

Cash to close

Compare down payment, closing costs, credits, and deposits instead of focusing only on the down payment percentage.

20% threshold

A lower down payment may preserve cash, but mortgage insurance can change the monthly payment and total cost.

Emergency reserve

Using every dollar for closing can leave little room for moving, repairs, furniture, or income disruption.

Loan program fit

Conventional, FHA, VA, USDA, jumbo, and assistance programs can all treat down payment and fees differently.

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FAQ

Down Payment Calculator FAQ

How much down payment do I need?

It depends on the loan program, lender requirements, property type, credit, income, and whether mortgage insurance applies. This calculator helps estimate the cash impact, not approval.

Are closing costs included in the down payment?

No. Closing costs are separate from the down payment. The calculator shows both so cash to close is easier to understand.

What happens if my down payment is below 20%?

For many conventional loans, mortgage insurance may be required. Some government-backed loans use different insurance or funding fee rules.

Can a seller credit reduce cash to close?

Possibly. Seller credits can reduce some closing costs, subject to loan program and lender limits. This simple calculator does not model credits.

Does this include taxes and insurance in monthly payment?

No. The monthly payment shown is principal and interest only. Use the Mortgage Calculator for tax, insurance, PMI, HOA, and escrow estimates.

What is cash to close?

Cash to close is the estimated amount needed at closing after considering the down payment, closing costs, lender credits, seller credits, deposits, and other adjustments.

Can down payment assistance change the result?

Yes. Grants, forgivable loans, employer assistance, or state housing programs can reduce cash needed, but each program has eligibility rules and may affect loan approval.

Is a larger down payment always better?

Not always. A larger down payment can lower the loan amount and possibly mortgage insurance, but it can also reduce emergency reserves. Compare cash to close with post-closing cash needs.

Disclaimer

This calculator is for general informational purposes and simple arithmetic checks. It is not a loan offer, mortgage approval, legal advice, tax advice, or financial advice. Verify down payment requirements, closing costs, credits, mortgage insurance, loan program rules, and cash-to-close figures with your lender or a qualified professional.