Down Payment Calculator
Estimate the down payment amount and monthly mortgage payment based on home price, down payment percentage, interest rate, and loan term.
Published by:
isCalculator Editorial Team
Was this calculator helpful?
How to use this tool?
How to Use the Down Payment Calculator
This calculator helps you estimate your down payment, loan amount, and monthly mortgage payment. Follow these steps:
- Enter the Home Price – Input the total purchase price of the home in dollars (e.g., 300000).
- Enter the Down Payment Percentage – The percentage of the home price you plan to pay upfront (e.g., 20 for 20%). Typical values range from 3% to 20%.
- Enter the Annual Interest Rate – The yearly interest rate on your mortgage (e.g., 6.5 for 6.5%).
- Enter the Loan Term in Years – The duration of the loan, commonly 15 or 30 years.
- Click "Calculate" – The results will show:
- Down Payment Amount – The cash you need upfront.
- Loan Amount – The amount you’ll finance.
- Monthly Payment – Your estimated monthly mortgage payment.
Note: All monetary values are in US dollars. Ensure all inputs are positive numbers (percentages can be zero). The calculator uses the standard amortization formula for monthly payments.
Previous Results
| Result | Inputs | Date |
|---|
Frequently Asked Questions
A down payment is the initial upfront portion of the total home price that you pay out-of-pocket. It is typically expressed as a percentage of the home price.
Conventional loans often require 3-20% down, but government-backed loans like FHA may allow as low as 3.5%. A 20% down payment helps avoid private mortgage insurance (PMI).
This calculator estimates principal and interest only. Actual monthly payments may also include property taxes, homeowners insurance, and PMI if applicable.
