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Down Payment Calculator Guide
Work out your down payment and loan amount from a home price and down payment percentage, plus an estimated monthly principal-and-interest payment and whether you'll likely owe PMI.
Down payment = price × percentage. The loan is the price minus the down payment. A down payment under 20% usually means paying private mortgage insurance (PMI).
How Much Down Payment Do I Need?
It depends on the loan type, but 20% is the common threshold to avoid PMI. On a $350,000 home, 10% down is $35,000, leaving a $315,000 loan — and PMI would typically apply until you reach 20% equity.
The 20% Rule and PMI
Putting down 20% or more usually avoids PMI and lowers your monthly payment. Smaller down payments make buying possible sooner but cost more each month. Some loan programs allow as little as 3–5% down with PMI.
These results are estimates for education and planning, not financial advice. Actual returns, rates, and terms vary — check with a qualified professional before making decisions.
Related: Mortgage Calculator, Amortization, and Loan Payment.
Frequently Asked Questions
How much down payment do I need for a house?
Twenty percent is the common target to avoid PMI, though many loans allow far less with mortgage insurance.
What is PMI and when do I pay it?
Private mortgage insurance is usually required when your down payment is under 20%, and it can often be removed once you reach 20% equity.
How do I calculate my down payment?
Multiply the home price by your down payment percentage; the rest becomes your loan amount.
Is a bigger down payment better?
A larger down payment lowers your loan, monthly payment, and interest, and can avoid PMI, but ties up more cash upfront.
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