The down payment is the first major financial decision in your home purchase — and it shapes everything that follows. How much you put down determines your loan size, your monthly payment, whether you pay PMI, your interest rate, and how much cash you need at closing. Getting this number right befor...
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Enter the Home Price — the purchase price you are considering.
Enter a Down Payment percentage OR an amount — the calculator syncs both automatically.
Use the Quick Select buttons (3.5%, 5%, 10%, 15%, 20%, 25%) to model different scenarios instantly.
Check the Live Diagram for your LTV ratio, PMI status, and total cash needed at closing.
If PMI applies, the calculator shows exactly how much more you need to add to eliminate it.
A couple is buying a $450,000 home. They have $60,000 saved. Down Payment % = ($60,000 / $450,000) × 100 = 13.3%. Loan Amount = $450,000 - $60,000 = $390,000. LTV = $390,000 / $450,000 = 86.7% — PMI applies. Monthly PMI ≈ $390,000 × 1% / 12 = $325/month. To reach 20% (no PMI): need $90,000 - $60,000 = $30,000 more. Closing costs (2-5%): $9,000 - $22,500. Total cash needed: $69,000 - $82,500.
| NAME | FORMULA | DESCRIPTION |
|---|---|---|
| Down Payment Amount | Down Amt = Home Price × (Down % / 100) | Dollar amount of down payment |
| Down Payment % | Down % = (Down Amt / Home Price) × 100 | Percentage of home price being paid upfront |
| Loan Amount | Loan = Home Price - Down Payment | Amount financed through the mortgage |
| LTV Ratio | LTV = (Loan / Home Price) × 100 | Loan-to-value ratio — below 80% avoids PMI |
| Monthly PMI | PMI/mo = Loan Amount × 0.01 / 12 | Approximate PMI when LTV > 80% (0.5-1.5% annually) |
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Last updated: April 25, 2026 · Formula verified by EagleCalculator team · Eagle-eyed accuracy for every calculation.