Calculate a down payment from home price and percentage, find what percent your cash covers, or see the home price your savings can support.
Down Payment Formula
The calculator solves for three different values depending on the mode you pick. To find the down payment in dollars, multiply the home price by the down payment percent:
DP = HP * d / 100
To find the down payment percent that your cash represents, divide the cash available by the home price:
d = C / HP * 100
To find the maximum home price your savings can support, divide total cash saved by the combined down payment and closing cost percentages. The loan amount is always the price minus the down payment:
HP = C / ((d + cc) / 100) LA = HP - DP
Variables:
- DP is the down payment in dollars
- HP is the home price
- d is the down payment percent
- C is the cash available (in maximum price mode, the cash covering both the down payment and closing costs)
- cc is the percent of the home purchase price reserved for closing costs (editable scenario default 3; blank means zero)
- LA is the resulting loan amount
Choose what you want to find at the top of the calculator. In "Down payment amount" mode you enter a home price and pick a percent — example options of 3%, 3.5%, 5%, 10%, 15%, 20%, and 25% are built in, or choose Custom to enter 0%–100% with up to four decimal places. These percentages do not establish loan-program eligibility. In "Down payment percent" mode you enter the home price and the cash you can put down, and the tool converts it to a percentage. In "Maximum home price" mode you enter your total cash saved, a target down payment percent, and a closing cost reserve so part of your cash is held back for fees instead of the down payment.
Every mode reports a base purchase loan amount before financed fees or insurance, with general conventional-PMI context. PMI may be required below 20% down; actual cost and requirements depend on the loan, lender and appraisal. FHA mortgage insurance follows different rules.
Down Payment by Home Price and Percent
This table shows the down payment in dollars at the most common percentages for typical home prices. The 3.5% column is an arithmetic example that may match eligible FHA financing; eligibility conditions apply. A 20% down payment often avoids conventional PMI, subject to lender and appraisal requirements.
| Home price | 3% | 3.5% | 5% | 10% | 15% | 20% |
|---|---|---|---|---|---|---|
| $250,000 | $7,500 | $8,750 | $12,500 | $25,000 | $37,500 | $50,000 |
| $300,000 | $9,000 | $10,500 | $15,000 | $30,000 | $45,000 | $60,000 |
| $350,000 | $10,500 | $12,250 | $17,500 | $35,000 | $52,500 | $70,000 |
| $400,000 | $12,000 | $14,000 | $20,000 | $40,000 | $60,000 | $80,000 |
| $450,000 | $13,500 | $15,750 | $22,500 | $45,000 | $67,500 | $90,000 |
| $500,000 | $15,000 | $17,500 | $25,000 | $50,000 | $75,000 | $100,000 |
| $550,000 | $16,500 | $19,250 | $27,500 | $55,000 | $82,500 | $110,000 |
| $600,000 | $18,000 | $21,000 | $30,000 | $60,000 | $90,000 | $120,000 |
Example Problems
Example 1: Find the down payment amount.
You are buying a $400,000 home and plan to put 10% down. Multiply the price by the percent:
DP = 400,000 * 10 / 100 = $40,000.00. The loan amount is 400,000 - 40,000 = $360,000.00, and because 10% is under 20%, the calculator flags that PMI is likely required on a conventional loan.
Example 2: Find the maximum home price.
You have $60,000 saved, want to put 15% down, and reserve 3% of the price for closing costs. Divide the cash by the combined percentages:
HP = 60,000 / ((15 + 3) / 100) = 60,000 / 0.18 = $333,333.33. The down payment is 333,333.33 * 15 / 100 = $50,000.00, the cash reserved for closing costs is $10,000.00, and the loan amount is $283,333.33.
Frequently Asked Questions
How much should I put down on a house?
There is no single right answer. A 20% down payment often avoids conventional PMI. Some eligible conventional borrowers may qualify with 3% down; eligible FHA borrowers may qualify with 3.5% down, while other borrowers or transactions may require more. Loan pricing and insurance depend on the program and circumstances. A smaller down payment gets you into a home sooner and preserves savings, while a larger one reduces the loan, the interest paid, and the risk of owing more than the home is worth.
What is PMI and how do I get rid of it?
PMI protects the lender on many conventional loans; check the Loan Estimate for its actual cost. For covered borrower-paid PMI, cancellation at 80% of original value generally requires a written request and conditions including current/good payment history, no junior liens and no value decline. Automatic termination generally uses the scheduled 78% date when payments are current. FHA and lender-paid insurance follow different rules.
Do closing costs count toward the down payment?
No. Closing costs are separate fees — lender charges, title work, escrow deposits, and taxes — that typically add another 2%–5% of the home purchase price, excluding the down payment, in cash due at closing. That is why the maximum home price mode reserves a slice of your savings (3% by default) so the calculator does not assume every dollar you have can go toward the down payment.
