Down Payment Calculator
Compare 3%, 5%, 10% and 20% down on the same home, with PMI, monthly payment and cash left over.
Free · No sign-up · Your inputs stay in your browser
Your numbers
Compare down payment sizes
Your projection
Less down keeps cash; more down lowers the bill
3% down · $11,400
$2,514.10 / mo
Includes $184.30 PMI. $48,600 cash left.
5% down · $19,000
$2,462.27 / mo
Includes $180.50 PMI. $41,000 cash left.
10% down · $38,000
$2,332.67 / mo
Includes $171.00 PMI. $22,000 cash left.
20% down · $76,000
$1,921.49 / mo
No PMI. $16,000 more cash needed.
Conventional PMI can be cancelled once the balance reaches 80% of the original value and ends automatically at 78%, under the Homeowners Protection Act. Keep closing costs and an emergency fund out of the down payment.
About this tool
Method, assumptions, practical next steps, and limits.
Twenty percent is not a requirement
Conventional loans are available with as little as 3% down and FHA loans with 3.5%. A smaller down payment keeps cash in reserve at the cost of a larger loan and mortgage insurance.
How the calculation works
The loan is price − down payment, amortized at your rate and term. Below 20% down, PMI is estimated at loan × PMI rate ÷ 12.
On a $380,000 home at 6.5% for 30 years with PMI at 0.6%, 5% down ($19,000) costs $2,462 a month including $180.50 of PMI. 20% down ($76,000) costs $1,921 with no PMI, but needs $16,000 more than the $60,000 available.
The trade-off
Under the Homeowners Protection Act, you can ask to cancel PMI on a conventional loan when the balance reaches 80% of the original value, and it ends automatically at 78%. FHA mortgage insurance follows different rules. Keep closing costs and an emergency fund separate from the down payment.
