Tiny Toolkit

Down Payment Calculator

Enter your home price and a down payment percentage — or use the quick-select buttons for 3.5%, 5%, 10%, and 20% — to instantly see the down payment dollar amount, resulting loan size, and loan-to-value ratio. The calculator flags when PMI is required (below 20% down) and estimates the monthly PMI cost range. A clear way to compare how different down payment amounts affect your loan and cash requirements.

All processing happens in your browser. No data is sent to any server.

Frequently Asked Questions

How much down payment do I need to buy a house?
The minimum depends on the loan type. Conventional loans typically require 3–5% for first-time buyers, 5–20% otherwise. FHA loans require 3.5% with a 580+ credit score. VA and USDA loans allow 0% down for eligible buyers.
What is LTV and why does it matter?
LTV (Loan-to-Value) is the loan amount as a percentage of the property value. A 20% down payment produces an 80% LTV. Lenders use LTV to assess risk: higher LTV means more risk, which can mean higher rates and PMI requirements.
What is PMI and when can I cancel it?
PMI (Private Mortgage Insurance) is required on conventional loans when LTV exceeds 80% (less than 20% down). It typically costs 0.5–1.5% of the loan annually. Under federal law (HPA), you can request PMI cancellation when your LTV reaches 80%, and lenders must automatically cancel it at 78%.
Is a larger down payment always better?
Not necessarily. A larger down payment lowers your monthly payment and eliminates PMI, but it also reduces your liquid cash reserves and cash-on-cash return if investing. Many savvy investors put the minimum down and deploy remaining capital into additional properties.

Related Tools

Rental Cash Flow Calculator — Rental Property Profit Analysis

Calculate monthly and annual cash flow for any rental property. Enter rent, mortgage, taxes, insurance, vacancy, and repairs to see your true net cash flow. Free.

Cap Rate Calculator — Rental Property Analysis Tool

Calculate cap rate instantly. Enter rent, vacancy, expenses, and property value to get your NOI and capitalization rate — and compare investment properties. Free.

Cash-on-Cash Return Calculator — Rental Property ROI

Calculate cash-on-cash return on any rental property. Enter your annual cash flow and total cash invested to instantly see your CoC return. Free.

Related Articles

How Much Are Closing Costs for Buyers and Sellers?

Closing costs catch many buyers and sellers off guard. Here's a breakdown of what each side pays, what's negotiable, and how to estimate your total before closing day.

5 min read