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Down Payment Calculator

Work out how much cash you need to buy a home. Enter the price, the down payment percentage and estimated closing costs to see the down payment, the loan you would need and the total cash to close — plus how many months of saving it will take from where you are now.

Quick examples
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Percent of the price. Buyers typically pay 2–5%.

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Your numbers stay in your browser. Nothing is uploaded.
Down payment$80,000.00
Loan amount
$320,000.00
Closing costs
$12,000.00
Cash needed to close
$92,000.00
Still to save
$62,000.00
Months of saving left
42
Cash to close
  • Down payment
  • Closing costs

Saved setups

Save a set of inputs you reuse — your usual rate, your loan, your room sizes — and load it back in one tap.

    Your recent calculations

    Results you calculate here are kept on this device so you can come back to them.

      Formula

      Down payment = home price × down payment %
      Loan amount = home price − down payment
      Cash to close = down payment + home price × closing cost %
      Months of saving = (cash to close − saved so far) ÷ monthly saving, rounded up

      How to use it

      1. Enter the price of the home you are aiming for.
      2. Enter the down payment percentage and an estimate for closing costs.
      3. Enter what you have saved and what you add each month to see the timeline.

      Worked examples

      20% down on a $400,000 home with 3% closing costs, $30,000 saved and $1,500 a month going in

      Down payment
      $80,000.00
      Loan amount
      $320,000.00
      Closing costs
      $12,000.00
      Cash needed to close
      $92,000.00
      Still to save
      $62,000.00
      Months of saving left
      42

      3.5% down on a $300,000 home with 3% closing costs, $5,000 saved and $800 a month

      Down payment
      $10,500.00
      Loan amount
      $289,500.00
      Closing costs
      $9,000.00
      Cash needed to close
      $19,500.00
      Still to save
      $14,500.00
      Months of saving left
      19

      Minimum down payments in the US

      Conventional loans start at 3% down for qualifying buyers, FHA loans at 3.5% with a credit score of 580 or higher, and VA and USDA loans can require nothing down for eligible borrowers. Putting down less than 20% on a conventional loan adds private mortgage insurance to the payment.

      On a $350,000 home, 3.5% is $12,250, 5% is $17,500 and 20% is $70,000.

      Do not forget closing costs

      Buyers typically pay 2–5% of the price in lender fees, title insurance, appraisal, prepaid taxes and insurance. Lenders also like to see a few months of payments left in reserve after closing, so the target is more than the down payment alone.

      Questions people ask

      How much is a 20% down payment on a $400,000 house?

      $80,000, leaving a $320,000 loan. With 3% closing costs ($12,000) you need $92,000 in cash.

      How much do I need down on a $300,000 house with an FHA loan?

      3.5%, which is $10,500. Add roughly $9,000 for closing costs and the cash needed is about $19,500.

      How long will it take to save a down payment?

      Divide the shortfall by your monthly saving. Needing $92,000 with $30,000 saved and $1,500 a month going in takes 42 months.

      Related calculators

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