Down Payment Calculator
Quick answer
Loan amount = price × (1 − down payment %). Lower LTV usually means smaller P&I and often better PMI treatment—program rules vary.
For a related estimate, see 20 Percent Down Calculator.
Explore further: House Down Payment Calculator · Biweekly Mortgage Calculator
LTV in one line
Loan-to-value ≈ loan ÷ price. Down payment % is the complement of initial LTV on a purchase.
Explore further: Closing Cost Calculator · Debt To Income Calculator
Primary angle: cash and loan size—how many dollars you bring to closing (excluding closing costs here) and how much you borrow. Slide 3%, 5%, 10%, and 20% to see LTV and payment change; this is the generic “price × (1 − down %)” frame.
How to use this calculator
- Hold price steady: Compare down scenarios on the same list price or you mix price and structure effects.
- Watch PMI thresholds: Many conventional loans treat ~20% down as a PMI breakpoint—not universal across programs.
- Pair with payment: Use a mortgage payment calculator to see P&I on each loan amount.
Real-world examples
- Example: $428k list, 5% vs 15% down: 5% → ~$406.6k loan; 15% → ~$363.8k loan—~$43k smaller principal at 15% cuts P&I materially at the same rate (illustrative).
- Sensitivity check: Nudge the rate by about +0.5% and the principal by about −5%. If the payment, break-even, or target amount moves enough to change your decision, you are still on a steep part of the curve where small inputs matter.
Explore further: Home Affordability With Taxes
What this means
LTV drives both payment and PMI exposure—raising down payment lowers principal and can remove PMI at common conventional breakpoints, which often swamps a small rate tweak.
FAQ
Does this include closing costs?
Down payment is separate from closing costs and prepaids—budget both for cash to close.
Is this a loan commitment?
No. Outputs are educational estimates. Final payments, APR, and fees come from your lender’s disclosures.
Why does my amortization schedule differ slightly?
Rounding, day-count conventions, and first-payment timing shift pennies. Use the schedule for directionally correct totals.