Down Payment Calculator

Use our Down Payment Calculator to work out your down payment in dollars or as a percentage, or the most expensive home your savings can cover.

The down payment is the part of the price you pay upfront; the rest is your mortgage. Conventional loans allow as little as 3% down and FHA loans 3.5%, but with less than 20% down a conventional lender usually charges private mortgage insurance (PMI) until you build enough equity.

Maximum home price keeps part of your savings back for closing costs — lender fees, title and escrow — which typically add 2% to 5% and don’t count toward the down payment.

To check what your income supports, use our Home Affordability Calculator; for the monthly payment, use our Mortgage Payment Calculator.