Down Payment Calculator
Calculate home affordability, cash needed, or down payment percentage based on different scenarios
Home Affordability
Cash Needed
Down Payment %
Home Affordability Results
Maximum Home Price
$250,000
Based on your cash available
Down Payment Required
$50,000
20% of home price
Closing Costs
$7,500
3% of home price
Cash Allocation
Understanding Down Payments
A down payment is the upfront portion of the total purchase price that you pay when buying a home. The size of your down payment affects your mortgage payments, interest rates, and whether you’ll need to pay for mortgage insurance.
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Lower Monthly Payments
A larger down payment reduces your loan amount and monthly payments
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Better Interest Rates
Lenders offer better rates for larger down payments
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No PMI
20% down payment eliminates private mortgage insurance
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Instant Equity
More down payment means more home equity from day one
How to Use This Calculator
This calculator helps you in three different ways:
- Home Affordability: Enter your available cash and desired down payment percentage to see what price home you can afford.
- Cash Needed: Enter the home price and down payment percentage to calculate how much cash you’ll need for the down payment and closing costs.
- Down Payment %: Enter the home price and your available cash to see what down payment percentage you can achieve.