🔝 Down Payment Calculator
Putting 20% down is the magic line: below it, most conventional lenders charge private mortgage insurance (PMI) on top of your payment. Enter the home price and your down payment percent to see the loan size, the LTV ratio and the gap to 20%.
A bigger down payment also means a smaller loan and less interest over time, but it should not drain your emergency fund.
How to use this calculator
Enter the home price and your down payment percent to see the down payment amount, loan size, loan-to-value ratio and the gap to 20%.
- Type the Home price.
- Set the Down payment percent.
- Press Calculate to see the breakdown.
- Check the extra amount needed to reach 20% and avoid PMI.
Frequently asked questions
Why does 20% down matter?
At 20% down the loan-to-value ratio is 80%, and most conventional lenders drop private mortgage insurance (PMI), which otherwise adds to every monthly payment.
What does the calculator show?
The down payment in dollars, the loan amount, the loan-to-value percent, the 20% target amount, and exactly how much more you would need to reach it.
Can you walk through an example?
On a $350,000 home with 10% down, the down payment is $35,000, the loan is $315,000, the LTV is 90%, and you would need another $35,000 to hit 20% and avoid PMI.
Is a bigger down payment always better?
It lowers the loan, the interest and usually the insurance, but it should not wipe out your emergency savings. Balance the maths against your cash buffer.