Know your down payment and loan amount instantly
Conventional loans often require 3–5%; 20% avoids PMI.
Down Payment
$80,000.00
20% of home price
Loan Amount
$320,000.00
80.0% financed
Home Price
$400.0K
Purchase price
Down payment vs. loan breakdown
No PMI required
A down payment of 20% or more typically eliminates the need for private mortgage insurance, lowering your monthly cost.
Home Price
$400.0K
Down %
20%
LTV
80.0%
See how different percentages affect your down payment and loan amount for this home price.
| Down % | Down Amount | Loan Amount | PMI? |
|---|---|---|---|
| 3% | $12,000.00 | $388,000.00 | Yes |
| 3.5% | $14,000.00 | $386,000.00 | Yes |
| 5% | $20,000.00 | $380,000.00 | Yes |
| 10% | $40,000.00 | $360,000.00 | Yes |
| 15% | $60,000.00 | $340,000.00 | Yes |
| 20%← selected | $80,000.00 | $320,000.00 | No |
| 25% | $100,000.00 | $300,000.00 | No |
Click any row to set that down payment percentage.
Use this free down payment calculator to instantly find out how much you need to put down on a home and what your resulting mortgage loan amount will be. Enter your home purchase price and desired down payment percentage to see the exact dollar figures, your loan-to-value ratio, and whether private mortgage insurance (PMI) applies — all in seconds.
Most conventional loans require at least 3–5% down. However, putting 20% or more down eliminates private mortgage insurance (PMI), which can save hundreds of dollars per month. FHA loans require 3.5% minimum with good credit.
Private mortgage insurance (PMI) is a monthly fee charged by lenders when your down payment is less than 20% of the home's purchase price. It protects the lender if you default. PMI typically costs 0.5%–1.5% of the loan amount per year and can be removed once you reach 20% equity.
LTV is the percentage of the home's value you are borrowing. It equals (loan amount ÷ home price) × 100. A lower LTV means more equity upfront and generally leads to better mortgage rates. Lenders prefer an LTV of 80% or lower.
Yes — a higher down payment reduces the loan principal, which directly lowers your monthly mortgage payment and total interest paid over the life of the loan. It also eliminates PMI once you reach 20% down, providing additional monthly savings.