United States · USD

Calculate Your Down Payment and Mortgage Amount

Estimate the down payment, complete cash-to-close requirement and how long it may take to reach your savings goal.

Home and down payment

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Closing and reserve costs

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Inspection, moving or other buyer-entered costs
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Funds and assistance

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Applied only against estimated closing costs and prepaids
Conventional requirements vary. A 5% preset is provided for comparison and is not a universal minimum.

Down-payment scenario comparison

Compare common percentages using the same entered costs and available funds

Down paymentAmountMortgageLTVCash goalShortfall / surplusTime to goal

Planning estimate only—not lending, eligibility, tax or legal advice. Program requirements, acceptable fund sources, seller-credit limits, mortgage insurance, guarantee or funding fees, appraisals and closing costs vary. Confirm all figures with a licensed lender and settlement professional.

Plan a down payment and the money around it

A down payment calculator is most useful when it separates money paid toward the home from money needed for fees and money kept in reserve. This tool starts with the purchase price and your chosen contribution, then adds estimated closing costs, prepaids and a retained reserve. Gifts, assistance and usable credits reduce the personal savings goal. The result is a planning budget, not the final amount required at closing.

A worked savings example

On a $360,000 home, a 5% down payment is $18,000. Suppose estimated closing costs are $9,000, prepaids are $3,000 and the reserve is $8,000. With $4,000 of eligible credits and a $5,000 gift, the personal cash goal becomes $29,000. If you have $23,000 saved, the remaining $6,000 would take about eight months to reach at $750 per month. The example keeps prices and costs constant and assumes no savings interest.

How credits and assistance enter the calculation

Closing costs equal your percentage of the home price plus the fixed costs entered. Credits are capped at closing costs plus prepaids; they do not cover the down payment in this model. The cap is a calculation convention, not a limit on any program’s rules. Gifts and assistance reduce the cash goal, but the tool does not verify eligibility or documentation. If assistance must be repaid or creates a second lien, consider that obligation separately.

Compare down‑payment choices in the US

The conventional preset uses 5% for comparison; it is not a universal minimum. FHA, VA and USDA presets illustrate different starting contributions without checking eligibility or fully pricing mortgage insurance, funding fees or guarantee fees. A zero‑down scenario can still require closing cash. Replace defaults with figures from lender documentation or program notes for your specific transaction.

A savings goal is different from cash to close

The reserve remains yours after the purchase. Earnest money and bills already paid may appear as adjustments on the final closing statement, but this calculator does not include separate fields for those items. Reconcile them with your lender rather than treating the savings goal as a settlement statement. Keep recurring property taxes, insurance, HOA dues and maintenance in a separate monthly budget.

CFPB: reading a Loan Estimate

Estimate the mortgage payment and recurring housing costs

Down payment calculator FAQ

Do I need a 20% down payment?

No. The calculator lets you compare smaller contributions and program presets. Eligibility, mortgage insurance, fees and lender requirements must be checked separately; 20% is not a universal minimum.

Is the cash goal the amount I will wire at closing?

No. It includes the reserve you want to keep and does not separately reconcile earnest money or charges already paid. Use your Closing Disclosure and verified closing instructions for the settlement amount.

Can seller or lender credits cover the down payment?

This model caps credits at entered closing costs plus prepaids. It does not apply them to the down payment or check program-specific concession limits.

How do gifts and down-payment assistance affect the result?

They reduce the personal cash goal. The tool does not verify eligibility or model repayments on assistance loans, so check whether assistance is a grant, repayable loan or deferred obligation.

How is the savings timeline calculated?

The remaining shortfall is divided by monthly savings and rounded up to whole months. No savings returns, home-price changes or cost inflation are assumed. A positive gap with zero monthly savings has no calculable timeline.

Are closing costs based on the home price or loan amount?

The percentage field applies to the home price, with fixed costs added separately. Avoid entering the same cost in both fields.

Does zero down mean no upfront cash?

No. Closing costs, prepaid expenses and a retained reserve can still require funds. The program presets do not include every funding, insurance or guarantee charge.