How to Calculate Down Payment
What is Down Payment?
A down payment calculator determines how much to save and how long it will take to reach a down payment goal for a home purchase. Conventional loans require 3–20% down; FHA loans require 3.5%. Putting down less than 20% requires PMI (private mortgage insurance) costing 0.5–1.5% of the loan annually.
Step-by-Step Guide
- 1Provide necessary inputs
- 2Review calculations
Worked Examples
Input
Standard input
Result
Computed result
Formula application
Common Mistakes to Avoid
- ✕Measurement errors
- ✕Wrong assumptions
Frequently Asked Questions
What does this calculator do?
Provide necessary inputs
How do I use this calculator?
Review calculations
Ready to calculate? Try the free Down Payment Calculator
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