Down Payment Calculator — How Much Do You Actually Need?
Calculate your down payment, monthly cost, and whether you trigger PMI — across any home price and down percentage.
A 10.00% down payment on this home is $45,000. Your estimated monthly payment is $2,906.
Putting less than 20.00% down means paying PMI (typically $80–$250/mo) until your loan-to-value reaches 78.00%. Compare lenders to find the best rate.
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This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.
Coach Insight
The down payment is the biggest cash hurdle to homeownership and one of the most consequential numbers in your mortgage. Going from 5% to 20% down eliminates PMI (typically $100-$300/mo), lowers your monthly payment, and saves tens of thousands in interest over 30 years. But putting more down means more opportunity cost — money you can't invest. This calculator quantifies the tradeoff so you can decide.
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About mortgage rates
Mortgage rates depend on loan type (30-yr fixed, 15-yr fixed, ARM, FHA, VA, jumbo), your credit score, down payment, points paid, loan amount, property state, and whether you're purchasing or refinancing. The calculator above uses a representative market rate for payment estimates — your actual rate will vary.
For a personalized rate comparison, use the tool below to see lenders ranked by APR, loan type, and your profile.
Mortgage rates shown on SwitchWize compare pages include loan type, assumed FICO, LTV, and points. Representative only — verify all terms directly with the lender. Advertising disclosure
Frequently Asked Questions
Frequently Asked Questions
Everything you need to know.
Why This Matters
The down payment is the biggest cash hurdle to homeownership and one of the most consequential numbers in your mortgage. Going from 5% to 20% down eliminates PMI (typically $100-$300/mo), lowers your monthly payment, and saves tens of thousands in interest over 30 years. But putting more down means more opportunity cost — money you can't invest. This calculator quantifies the tradeoff so you can decide.
How to Use It
- 1Enter the home price you are considering
- 2Slide the down payment percent (most conventional loans need 5-20%)
- 3Set your expected mortgage rate (use our /mortgage page for live rates)
- 4See your down payment dollar amount, monthly cost, PMI if any, and total interest
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