How much should I put down on a house?

Conventional loans often allow 3% down for some borrowers but 20% down avoids PMI. FHA commonly requires 3.5%. VA and USDA may allow 0% down for eligible borrowers.

Does 20% down always remove PMI?

For most conventional loans, having an initial LTV at or below 80% means PMI is not required. PMI can also be canceled later as equity builds.

Are closing costs included in the down payment?

No. Closing costs are separate and typically range from 2%–5% of the purchase price. Cash to close usually equals down payment plus closing costs minus any credits.

How is the monthly payment calculated here?

The calculator uses the standard amortization formula for principal and interest based on loan amount, interest rate, and term. Taxes, insurance, mortgage insurance and HOA fees are not included.

Can I qualify for FHA, VA, or USDA with the minimum down shown?

Minimum down payment is only one factor. Eligibility depends on credit, income, property requirements, and program-specific rules. Consult a licensed lender.

How long will it take me to save my target down payment?

Enter your current savings and monthly saving contribution. The tool estimates months and a target date to reach the goal, ignoring investment returns or inflation.

How much should I put down on a house?

Conventional loans often allow 3% down for some borrowers but 20% down avoids PMI. FHA commonly requires 3.5%. VA and USDA may allow 0% down for eligible borrowers.

Does 20% down always remove PMI?

For most conventional loans, having an initial LTV at or below 80% means PMI is not required. PMI can also be canceled later as equity builds.

Are closing costs included in the down payment?

No. Closing costs are separate and typically range from 2%–5% of the purchase price. Cash to close usually equals down payment plus closing costs minus any credits.

How is the monthly payment calculated here?

The calculator uses the standard amortization formula for principal and interest based on loan amount, interest rate, and term. Taxes, insurance, mortgage insurance and HOA fees are not included.

Can I qualify for FHA, VA, or USDA with the minimum down shown?

Minimum down payment is only one factor. Eligibility depends on credit, income, property requirements, and program-specific rules. Consult a licensed lender.

How long will it take me to save my target down payment?

Enter your current savings and monthly saving contribution. The tool estimates months and a target date to reach the goal, ignoring investment returns or inflation.

How much should I put down on a house?

Conventional loans often allow 3% down for some borrowers but 20% down avoids PMI. FHA commonly requires 3.5%. VA and USDA may allow 0% down for eligible borrowers.

Does 20% down always remove PMI?

For most conventional loans, having an initial LTV at or below 80% means PMI is not required. PMI can also be canceled later as equity builds.

Are closing costs included in the down payment?

No. Closing costs are separate and typically range from 2%–5% of the purchase price. Cash to close usually equals down payment plus closing costs minus any credits.

How is the monthly payment calculated here?

The calculator uses the standard amortization formula for principal and interest based on loan amount, interest rate, and term. Taxes, insurance, mortgage insurance and HOA fees are not included.

Can I qualify for FHA, VA, or USDA with the minimum down shown?

Minimum down payment is only one factor. Eligibility depends on credit, income, property requirements, and program-specific rules. Consult a licensed lender.

How long will it take me to save my target down payment?

Enter your current savings and monthly saving contribution. The tool estimates months and a target date to reach the goal, ignoring investment returns or inflation.

Down Payment Calculator

Professional down payment calculator for homebuyers. Instantly compute down payment amount or percent, loan amount, LTV, monthly payment (P&I), estimated closing costs, PMI threshold, and time needed to save. WCAG 2.1 AA accessible and mobile-first.

Full original guide (expanded)

Audit: Complete

Formula (LaTeX) + variables + units

This section shows the formulas used by the calculator engine, plus variable definitions and units.

Formula (extracted LaTeX)

\[','\\]

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Formula (extracted text)

Down payment (amount), when percent mode is used: \\( DP_{amt} = P \\times \\dfrac{DP\\%}{100} \\) Loan amount: \\( L = P - DP_{amt} \\) LTV: \\( LTV\\% = \\dfrac{L}{P} \\times 100 \\) Monthly P&I (amortized): \\( M = L \\cdot \\dfrac{i(1+i)^n}{(1+i)^n - 1} \\), where \\( i = APR/12 \\), \\( n = 12 \\cdot years \\) Closing costs estimate: \\( C = P \\times \\dfrac{c}{100} \\) Cash to close (excl. credits/prepaids): \\( Cash = DP_{amt} + C \\) Months to save: \\( months = \\left\\lceil \\max\\left(0, \\dfrac{DP_{amt} - S_{current}}{S_{monthly}} \\right) \\right\\rceil \\)

Variables and units

T = property tax (annual or monthly depending on input) (currency)
I = homeowners insurance (annual or monthly depending on input) (currency)
PMI = private mortgage insurance (monthly) (currency)
HOA = homeowners association dues (monthly) (currency)

Sources (authoritative):

Home — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/
Finance — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/finance

Changelog

Version: 0.1.0-draft
Last code update: 2026-01-19

0.1.0-draft · 2026-01-19

Initial audit spec draft generated from HTML extraction (review required).
Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
Confirm sources are authoritative and relevant to the calculator methodology.

Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn

, ', svg: { fontCache: 'global' } };

Audit: Complete

Formula (LaTeX) + variables + units

This section shows the formulas used by the calculator engine, plus variable definitions and units.

Formula (extracted LaTeX)

\[','\\]

','\

Formula (extracted text)

Down payment (amount), when percent mode is used: \\( DP_{amt} = P \\times \\dfrac{DP\\%}{100} \\) Loan amount: \\( L = P - DP_{amt} \\) LTV: \\( LTV\\% = \\dfrac{L}{P} \\times 100 \\) Monthly P&I (amortized): \\( M = L \\cdot \\dfrac{i(1+i)^n}{(1+i)^n - 1} \\), where \\( i = APR/12 \\), \\( n = 12 \\cdot years \\) Closing costs estimate: \\( C = P \\times \\dfrac{c}{100} \\) Cash to close (excl. credits/prepaids): \\( Cash = DP_{amt} + C \\) Months to save: \\( months = \\left\\lceil \\max\\left(0, \\dfrac{DP_{amt} - S_{current}}{S_{monthly}} \\right) \\right\\rceil \\)

Variables and units

T = property tax (annual or monthly depending on input) (currency)
I = homeowners insurance (annual or monthly depending on input) (currency)
PMI = private mortgage insurance (monthly) (currency)
HOA = homeowners association dues (monthly) (currency)

Sources (authoritative):

Home — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/
Finance — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/finance

Changelog

Version: 0.1.0-draft
Last code update: 2026-01-19

0.1.0-draft · 2026-01-19

Initial audit spec draft generated from HTML extraction (review required).
Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
Confirm sources are authoritative and relevant to the calculator methodology.

Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn

]], displayMath: [['\\[','\\]']] }, svg: { fontCache: 'global' } };, svg: { fontCache: 'global' } };

Audit: Complete

Formula (LaTeX) + variables + units

This section shows the formulas used by the calculator engine, plus variable definitions and units.

Formula (extracted LaTeX)

\[','\\]

','\

Formula (extracted text)

Down payment (amount), when percent mode is used: \\( DP_{amt} = P \\times \\dfrac{DP\\%}{100} \\) Loan amount: \\( L = P - DP_{amt} \\) LTV: \\( LTV\\% = \\dfrac{L}{P} \\times 100 \\) Monthly P&I (amortized): \\( M = L \\cdot \\dfrac{i(1+i)^n}{(1+i)^n - 1} \\), where \\( i = APR/12 \\), \\( n = 12 \\cdot years \\) Closing costs estimate: \\( C = P \\times \\dfrac{c}{100} \\) Cash to close (excl. credits/prepaids): \\( Cash = DP_{amt} + C \\) Months to save: \\( months = \\left\\lceil \\max\\left(0, \\dfrac{DP_{amt} - S_{current}}{S_{monthly}} \\right) \\right\\rceil \\)

Variables and units

T = property tax (annual or monthly depending on input) (currency)
I = homeowners insurance (annual or monthly depending on input) (currency)
PMI = private mortgage insurance (monthly) (currency)
HOA = homeowners association dues (monthly) (currency)

Sources (authoritative):

Home — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/
Finance — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/finance

Changelog

Version: 0.1.0-draft
Last code update: 2026-01-19

0.1.0-draft · 2026-01-19

Initial audit spec draft generated from HTML extraction (review required).
Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
Confirm sources are authoritative and relevant to the calculator methodology.

Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn

Formulas

(Formulas preserved from original page content, if present.)

Version 0.1.0-draft

Citations

Add authoritative sources relevant to this calculator (standards bodies, manuals, official docs).

Changelog

0.1.0-draft — 2026-01-19: Initial draft (review required).