Down Payment Calculator

How This Calculator Works

A down payment is the portion of a home’s price paid upfront in cash, with the rest financed through a mortgage loan. Enter your home price and either the down payment percent or the dollar amount — whichever you already know — and this calculator returns the other figure, plus the resulting loan amount.

This calculator also flags whether private mortgage insurance (PMI) is likely required: for conventional loans, a down payment below 20% typically requires it, since lenders use PMI to offset the greater risk of financing a larger share of the home’s value.

The Formula

$$\vC{\text{Down Payment Amount}} = \vA{\text{Home Price}} \times (\vB{\text{Down Payment Percent}} \div 100)$$ $$\vB{\text{Down Payment Percent}} = \frac{\vC{\text{Down Payment Amount}}}{\vA{\text{Home Price}}} \times 100$$ $$\text{Loan Amount} = \vA{\text{Home Price}} - \vC{\text{Down Payment Amount}}$$

Worked Example

A $350,000 home with 20% down:

1. Down payment amount: $350,000 × 20% = $70,000.
2. Loan amount needed: $350,000 − $70,000 = $280,000.
3. At exactly 20% down, PMI is typically not required on a conventional loan.

If you instead knew you had $40,000 saved toward that same $350,000 home: that works out to about 11.4% down, leaving a $310,000 loan — and PMI would likely be required at that level.