Down Payment Calculator

Calculate your ideal down payment for a home purchase. Compare 3%, 5%, 10%, and 20% scenarios with PMI costs and monthly payment differences to find the best strategy.

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How to Use Down Payment Calculator

1Enter the home price.
2Set your target down payment percentage.
3View monthly mortgage and PMI costs.
4Compare different down payment scenarios.

Frequently Asked Questions

While 20% avoids PMI, many programs allow 3-5% down. FHA requires 3.5%, VA and USDA loans offer 0% down for qualified buyers.

Putting 20% down eliminates PMI ($100-300/month), reduces your loan amount, and often gets you a better interest rate. However, it means more cash tied up in the home.

Private Mortgage Insurance costs 0.5-1.5% of the loan amount annually. On a $300,000 loan, that's $125-375/month until you reach 20% equity.

The Down Payment Calculator is an online tool that lets you calculate how much to save for a down payment and see how it affects your mortgage payments and pmi. It is part of NexTool's collection of free tools designed to help you work faster and more efficiently.

The Free plan includes 10 tool uses per day. Some features require an account or a paid plan. Check the controls on the tool page and Pricing for the applicable limits.

The Down Payment Calculator returns results based on the inputs and the tool methodology. Check assumptions, units and source dates. Treat projections as estimates. For critical decisions, always consult a qualified professional.

Yes, the Down Payment Calculator is fully responsive and works perfectly on smartphones, tablets, and desktop computers. Simply open NexTool in your mobile browser and navigate to the tool — no app download required.

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About Down Payment Calculator

Calculate your ideal down payment for a home purchase. Compare 3%, 5%, 10%, and 20% scenarios with PMI costs and monthly payment differences to find the best strategy.

Use the controls shown by Down Payment Calculator to generate and review your result. Available features and usage limits depend on your plan. Check the tool's instructions and privacy information before submitting data.

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Down Payment Calculator

Calculate your ideal down payment for a home purchase. Compare 3%, 5%, 10%, and 20% scenarios with PMI costs and monthly payment differences to find the best strategy.

Share Y

Down Payment Calculator

Home Price ($)

Interest Rate (%)

Loan Term (years)

Down Payment

10%($40,000)

0%10%20% (No PMI)35%50%

Down Payment

$40,000

Loan Amount

$360,000

Monthly P&I

$2,275.44

PMI Cost

$225.00

for 109 months

Total Monthly

$2,500.44

Down Payment Comparison

Down %	Down Payment	Loan Amount	Monthly P&I	PMI/mo	Total Monthly	Total Interest	Total Cost
3%	$12,000	$388,000	$2,452.42	$371.83	$2,824.26	$494,873	$948,417
5%	$20,000	$380,000	$2,401.86	$300.83	$2,702.69	$484,669	$925,282
10%Selected	$40,000	$360,000	$2,275.44	$225.00	$2,500.44	$459,160	$883,685
15%	$60,000	$340,000	$2,149.03	$155.83	$2,304.86	$433,651	$845,339
20%No PMI	$80,000	$320,000	$2,022.62	$0	$2,022.62	$408,142	$808,142

PMI Analysis

With 10% down, you will pay PMI of $225.00/month for approximately 109 months until you reach 78% LTV.

Monthly PMI

$225.00

PMI Duration

9y 1m

Total PMI Cost

$24,525

PMI cost by down payment level:

3% down

$53,544

5% down

$40,613

10% down

$24,525

15% down

$11,688

Savings Timeline

Current Savings ($)

Monthly Savings Rate ($)

Down %	Amount Needed	Remaining to Save	Months	Years	Target Date
3%	$12,000	Ready!	0	0	Now
5%	$20,000	$5,000	4	0.3	Feb 2027
10%	$40,000	$25,000	17	1.4	Mar 2028
15%	$60,000	$45,000	30	2.5	Apr 2029
20%	$80,000	$65,000	44	3.7	Jun 2030

Savings Progress

100%

75%

10%

38%

15%

25%

20%

19%

Total Cost Over Loan Life

$948,417

$925,282

10%

$883,685

15%

$845,339

20%

$808,142

Down Payment

Principal

Interest

PMI

This calculator provides estimates for educational purposes only. Actual costs may vary based on lender, location, and credit profile. PMI rates are estimated and may differ from your actual rate. Consult a mortgage professional for precise figures.

Share this tool

Share Y

Rate this tool

Unlock 8 AI-powered analysis tools

Resume scanner, contract analyzer & more — Pro $9/mo

Learn more

Want more? Unlock the full experience

Compare Pro allowances for your work with Down Payment Calculator

More daily tool uses

500 tool uses per day on Pro

Monthly AI allowance

50 AI uses per month across supported AI tools

Ad-free tools

Use NexTool without ads while your Pro plan is active

Review Pro$9.00/mo · Cancel anytime

Compare Mortgage Rates

See today's rates from top lenders. Pre-qualify in minutes.

Compare Rates

Compare High-Yield Savings

Grow your down payment fund with up to 5.00% APY.

Compare Rates

Sponsored · We may earn a commission at no cost to you

How to Use Down Payment Calculator

1Enter the home price.
2Set your target down payment percentage.
3View monthly mortgage and PMI costs.
4Compare different down payment scenarios.

Frequently Asked Questions

While 20% avoids PMI, many programs allow 3-5% down. FHA requires 3.5%, VA and USDA loans offer 0% down for qualified buyers.

Putting 20% down eliminates PMI ($100-300/month), reduces your loan amount, and often gets you a better interest rate. However, it means more cash tied up in the home.

Private Mortgage Insurance costs 0.5-1.5% of the loan amount annually. On a $300,000 loan, that's $125-375/month until you reach 20% equity.

The Free plan includes 10 tool uses per day. Some features require an account or a paid plan. Check the controls on the tool page and Pricing for the applicable limits.

Get weekly tips for Down Payment Calculator & more

No spam. Unsubscribe anytime.

About Down Payment Calculator

Calculate your ideal down payment for a home purchase. Compare 3%, 5%, 10%, and 20% scenarios with PMI costs and monthly payment differences to find the best strategy.

Embed This Tool

Add Down Payment Calculator to your website. Paste the code below into your HTML. The iframe auto-resizes to fit the tool content.

Width

Height

px or %

<iframe src="https://getnextool.com/embed/down-payment-calculator" width="100%" height="600" frameborder="0" style="border:0;border-radius:12px;" loading="lazy" title="Down Payment Calculator - NexTool"></iframe>
<script>window.addEventListener('message',function(e){if(e.data&&e.data.type==='nextool-embed-resize'){var iframes=document.querySelectorAll('iframe[src*="getnextool.com/embed/"]');iframes.forEach(function(f){if(e.source===f.contentWindow)f.style.height=e.data.height+'px'})}});</script>

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