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Calculation Machine

Down Payment Calculator

How much deposit you need and when.

Reviewed by the Calculation Machine team · How we check our maths

Your values

ⓘ Live results

Results
Down payment needed
$80,000.00
Still to save
$55,000.00
Months to reach it
37
Loan amount
$320,000.00
PMI likely?
No

Quick answer

A 20% down payment avoids mortgage insurance, but many loan programs allow 3–5% with PMI added to the payment.

Worked example

Worked example

Using the values the calculator loads with.

Inputs

  • Home price400000 $
  • Down payment20 %
  • Already saved25000 $
  • Monthly saving1500 $

Result

  • Down payment needed$80,000.00
  • Still to save$55,000.00
  • Months to reach it37
  • Loan amount$320,000.00
  • PMI likely?No

How to use the Down Payment Calculator

  1. 1Enter the target home price.
  2. 2Choose your down payment percentage.
  3. 3Enter savings so far and your monthly contribution.

Frequently asked questions

Is 20% required?

No. FHA allows 3.5% and many conventional loans allow 3%, with PMI.

Do closing costs come out of the down payment?

No, they are additional — budget 2–5% more.

About this calculator