Set your target home price, compare 3%–25% down scenarios, and build a month-by-month savings plan with compound interest to reach your goal.
Monthly contributions + compound interest on your current savings
See how different down payment amounts affect your monthly payment, PMI, and total loan cost.
Type in the purchase price of the home you're considering. This is the starting point for calculating how much you need to put down.
Use the slider or type a percentage. The calculator shows how different amounts change your loan size and whether PMI applies (typically required below 20%).
Enter your expected mortgage rate and loan term. These affect how much your down payment choice impacts total interest paid over the life of the loan.
Review your monthly payment breakdown, total interest, and whether PMI is required. Use the chart to visualize how your down payment splits into equity and loan balance.
20% remains the gold standard — it eliminates PMI, can improve your rate, and lowers your monthly payment. But many programs allow as little as 3% for first-time buyers.
The smarter question is balance: don't drain your emergency fund just to hit 20%. Paying PMI temporarily while keeping 3–6 months liquid often makes more sense.
Great for first-time buyers. PMI applies but can be cancelled once you reach 20% equity. FHA has more flexible credit requirements.
Halves PMI cost vs 5%, meaningfully reduces your loan balance, and preserves more cash for emergencies and repairs.
Eliminates PMI entirely, typically secures better rates, and significantly reduces your monthly payment.
Park your down payment fund in a HYSA (4–5% APY). Your money works while you save toward the goal.