Find your down payment amount or percent, or the max home price your cash supports, with loan amount and PMI status included.
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 price reserved for closing costs (default 3)
- 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 — common options such as 3%, 3.5% (the FHA minimum), 5%, 10%, 15%, 20%, and 25% are built in, or choose Custom to type any percent. 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 also reports the resulting loan amount and flags private mortgage insurance (PMI). Conventional lenders usually require PMI when the down payment is under 20% of the price; it typically costs about 0.3%–1.5% of the loan amount per year and can be removed once you build enough equity.
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 matches the FHA minimum, and 20% is the threshold that avoids PMI on conventional loans.
| 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. Putting 20% down avoids PMI, lowers your monthly payment, and often earns a slightly better rate, but many buyers put down far less: conventional programs allow as little as 3% and FHA loans allow 3.5%. 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?
Private mortgage insurance protects the lender when a conventional loan exceeds 80% of the home’s value, and it typically costs about 0.3%–1.5% of the loan amount per year. You can request cancellation once your balance reaches 80% of the home’s original value, and lenders must terminate it automatically at 78%. FHA loans charge their own mortgage insurance premium under different rules, which often lasts for the life of the loan.
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 loan amount 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.
