Quick start
- Open the Down Payment Calculator.
- Enter the home price.
- Either enter an exact down payment amount or leave it blank and use a down payment percent.
- Add a rough closing-cost percent, then check down payment, loan amount, LTV, closing costs, and cash needed.
- Compare 20%, 10%, 5%, and 3.5% down before trusting the first number.
Best uses
Start here if one of these sounds like your job. The examples below show which inputs matter most.
- Estimate cash needed for a home purchase.
- Compare 20%, 10%, 5%, and 3.5% down payment scenarios.
- See loan-to-value from the down payment.
- Add a rough closing cost percentage.
What this calculator is for
The Down Payment Calculator estimates upfront cash for a home purchase. It keeps down payment separate from closing costs because they are not the same thing.
Use it before asking for a loan estimate, comparing down payment choices, checking whether 3.5%, 5%, 10%, or 20% changes the loan size, or planning how much cash to keep outside the purchase.
What to enter
Down-payment estimates are easy to undercount because the down payment and closing costs are separate. Enter the home price, choose exact cash or a percent, then add a rough closing-cost percent for early planning.
- Enter home price first.
- Either enter an exact down payment dollar amount or use the down payment percent.
- Enter closing cost percent as a rough planning estimate, separate from the down payment.
Example walkthrough
Try the starter example: a $400,000 home, 20% down, and 3% closing costs. The estimate is $80,000 down, a $320,000 loan, 80% LTV, $12,000 closing costs, and $92,000 cash needed.
- $400,000 with 20% down gives an $80,000 down payment and a $320,000 estimated loan.
- If closing costs are estimated at 3%, the calculator adds $12,000 to show $92,000 estimated cash needed.
Formula and steps
In plain language: The calculator uses an exact down payment if entered. If that field is blank, it multiplies home price by the down payment percent. Then it subtracts the down payment from price for the loan amount, shows LTV, estimates closing costs from home price, and adds those costs to the down payment for estimated cash needed. If the result seems too high or too low, first check whether each field expects a monthly amount, annual amount, dollar value, or percent.
The closing-cost field is intentionally rough. CFPB and Fannie Mae both point buyers toward 2% to 5% style planning ranges early on, but the real number comes from lender and closing documents.
How to read the answer
Start with estimated cash needed, then look at down payment, loan amount, LTV, and closing costs separately. That keeps a low-down-payment example from hiding a larger loan or extra closing cash.
- Cash needed is down payment plus estimated closing costs.
- Loan amount is home price minus down payment.
- Loan-to-value is the loan amount as a percent of the home price.
Common mistakes to avoid
Most bad down-payment estimates come from counting only the down payment, forgetting closing costs, assuming assistance always applies, or treating a 3.5% example like lender approval.
- Do not treat closing costs as part of the down payment.
- Do not forget escrow deposits, lender reserves, moving costs, inspections, insurance, and assistance-program rules.
- Do not assume the calculator is a final cash-to-close number.
What to try next
A related tool can help after you know the upfront cash number. The next question is usually monthly payment, FHA-style low-down-payment math, or whether the house still fits the budget.
- Use Mortgage Calculator to estimate the monthly payment.
- Use FHA Loan Calculator to test a common low-down-payment scenario.
Sources and estimate notes
CFPB explains down payment decisions and why closing costs are separate from the down payment. Fannie Mae adds down-payment, closing-cost, and closing-document context. HUD explains that FHA down payments can be as low as 3.5% for some buyers and properties.
This calculator still stays simple. It does not approve a mortgage, price mortgage insurance, verify assistance, read a Loan Estimate, set escrow deposits, or replace the cash-to-close figure from your lender and settlement company.
Worked examples for Down Payment Calculator
$92,000 estimated cash needed, $80,000 down, $320,000 loan, and 80% LTV
$22,750 estimated cash needed, $11,375 down, $313,625 loan, and 96.5% LTV
$63,500 estimated cash needed, $400,000 loan, and 88.89% LTV
FAQ in plain language
When should I use the Down Payment Calculator?
Use it when you want to test the exact inputs on this page: Estimate cash needed for a home purchase. Compare 20%, 10%, 5%, and 3.5% down payment scenarios. The result is a check against your assumptions, not proof that a lender, tax app, broker, platform, or provider will use the same number.
What do the main Down Payment Calculator inputs mean?
Home price means the purchase price you want to test before taxes, fees, or moving costs. Down payment amount means the exact cash you plan to put toward the price. If you fill this in, it overrides the percent field. Down payment percent means the percent of the price paid upfront when the exact dollar field is blank, such as 20 for 20% or 3.5 for 3.5%. Closing cost estimate means a rough percent of the home price for closing costs, kept separate from the down payment.
Is down payment the same as cash to close?
No. Down payment is the part of the home price you pay upfront. Cash to close is bigger because it can also include lender fees, title fees, prepaid taxes, insurance, escrow deposits, points, and other closing costs. This calculator estimates down payment plus a simple closing-cost percent.
Should I enter an exact down payment or a percent?
Use the exact dollar field when you already know the cash amount, such as $50,000. Leave it blank when you want the calculator to use the percent field, such as 20% or 3.5%.
What does loan-to-value mean here?
Loan-to-value, or LTV, is the estimated loan amount compared with the home price. A $320,000 loan on a $400,000 home is 80% LTV. Lower LTV usually means more cash down and less money borrowed.
Why does the calculator include closing costs?
Because buyers usually need more than the down payment at closing. CFPB and Fannie Mae explain that closing costs are paid in addition to the down payment, and early planning often uses a rough 2% to 5% range before a lender gives exact numbers.
What is the Down Payment Calculator doing with my numbers?
In plain language: The calculator uses an exact down payment if entered. If that field is blank, it multiplies home price by the down payment percent. Then it subtracts the down payment from price for the loan amount, shows LTV, estimates closing costs from home price, and adds those costs to the down payment for estimated cash needed. If the result seems too high or too low, first check whether each field expects a monthly amount, annual amount, dollar value, or percent.
Related tools
- Mortgage Calculator Estimate monthly principal, interest, taxes, insurance, PMI, and HOA costs.
- FHA Loan Calculator Estimate an FHA-style mortgage payment with upfront MIP, monthly MIP, taxes, and insurance.
- House Affordability Calculator Estimate a home price from income, debts, down payment, rate, and housing costs.
Keep exploring
If this guide is close but not exact, these links keep you near the same kind of problem.
- Finance Browse the full category for related tools that help with the same job.
- All free tools Search the complete Access Free Tools library by task, category, or tool name.
- All calculator and utility guides Find more plain-language examples, formulas, mistakes, and result explanations.
- Free calculator resources Start here when you are not sure which calculator page fits.
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