Down Payment Calculator

How to use

1. 1Pick a mode: Compare down payment tiers, or Plan a savings timeline.
2. 2Click a common scenario (Starter home, Median home, Premium home, City condo, or 15-year fixed) to seed realistic inputs in one click, or type your own.
3. 3Compare mode: enter the home price, mortgage interest rate, and loan term in years. The tier table shows seven down payment percentages with the dollar amount, loan amount, monthly principal and interest, lifetime interest, and PMI status.
4. 4Savings mode: enter the home price, target down payment percent, your current savings, your monthly contribution, and your savings account interest rate. The result panel solves the future-value equation for the number of months to reach the goal.
5. 5Switch the currency between USD, EUR, GBP, CAD, AUD, JPY, INR, or TRY for display formatting. Use any Copy button, or Copy CSV on the tier table, to grab the numbers.

About this tool

Down Payment Calculator answers the two questions every home buyer asks before they start shopping. Compare tiers mode takes a target home price, a mortgage rate, and a loan term and prints a side-by-side table of seven common down payment tiers (3%, 3.5%, 5%, 10%, 15%, 20%, and 25%) with the dollar amount of each down payment, the resulting loan amount, the estimated monthly principal and interest, the lifetime interest paid over the full term, and whether private mortgage insurance is typically required. The 3% tier matches conventional HomeReady and Home Possible programs, the 3.5% tier matches the FHA minimum, and the 20% tier flips PMI to Waived because that is the threshold conventional lenders use under the Homeowners Protection Act. Plan savings mode takes a target home price, a target down payment percent, your current savings balance, your monthly contribution, and an annual savings interest rate (compounded monthly, set 0 for a non-interest account) and solves the future-value-of-an-annuity equation for the number of months it takes to reach the goal. The result panel shows the goal amount, your starting balance, how much you still need, your total contributions over the savings period, the interest you will earn along the way, and the exact months and years to the goal. Eight currencies, common scenario presets (starter, median, premium, city condo, and 15-year fixed), CSV export of the tier comparison, and per-row copy buttons make it easy to share the breakdown with a partner, a lender, or a savings tracker. The math is transparent: down payment equals price times percent, loan equals price minus down payment, monthly P and I uses the standard amortization formula M = L times r times (1+r)^n divided by ((1+r)^n minus 1), and the savings timeline uses goal = PV times (1+r)^n plus C times ((1+r)^n minus 1) divided by r solved for n. Everything runs in your browser, so the home prices, savings balances, and contribution amounts you type never leave your device. Useful for deciding between FHA and conventional, sizing a down payment against a monthly budget, calculating the PMI break-even point, planning a savings timeline with a CD, money market, or high-yield savings account, comparing lender quotes, and answering the everyday "how much down payment do I need" question with real math instead of a generic chart. The tool models only the principal-and-interest portion of the mortgage; PMI cost, mortgage insurance, property tax, homeowners insurance, HOA, and closing costs are not included here, so always confirm final figures with your lender.

Free to use. Works in your browser. No signup, no login.