Down Payment Calculator

💰 Down Payment & Savings Calculator

Home Price

Down Payment Percentage

Current Savings Toward Down Payment

Monthly Savings Amount

How much you can save per month toward the down payment

Estimated Closing Costs

Typically 2–5% of the home price, paid at closing

📊 Down Payment Breakdown

Down Payment Required—

Down Payment Percentage—

Estimated Closing Costs—

Total Cash Needed at Closing—

You Currently Have Saved—

Still Need to Save—

Months to Goal—

Estimated Ready Date—

📈 Savings Progress Timeline

Month	Saved This Month	Total Savings	Still Needed

More Calculators

How to Use This Down Payment Calculator

Enter the home price, your desired down payment percentage, how much you've already saved, and how much you can save per month. The calculator will show you the exact down payment amount needed, estimated closing costs, total cash required at closing, and a month-by-month savings timeline to reach your goal.

How Much Down Payment Do You Need?

The minimum down payment depends on the loan type. Conventional loans can go as low as 3%, FHA loans require 3.5%, while VA and USDA loans may require 0% for eligible buyers. However, putting down less than 20% typically requires Private Mortgage Insurance (PMI), which adds to your monthly cost.

A 20% down payment eliminates PMI, lowers your monthly payment, and often gives you access to better interest rates — making it the gold standard target for most buyers.

Don't Forget Closing Costs

In addition to the down payment, buyers typically pay 2–5% of the home price in closing costs. These include lender fees, title insurance, appraisal, prepaid taxes and insurance, and attorney fees (in some states).

For a $350,000 home, that means you could need an additional $7,000–$17,500 on top of your down payment. Always budget for closing costs when planning your home purchase.