Down Payment Calculator

Home down payment and purchase cash

A down payment is the portion of the home price you pay rather than borrow. This calculator separates that amount from estimated closing costs, then shows the loan balance and a fixed-rate monthly principal-and-interest payment. All amounts are in US dollars. The starting values are examples, not market quotes or lending requirements.

Three ways to plan

Home price from available cash: enter the purchase cash you intend to use and a down-payment percentage. The calculator solves for the home price that uses that cash after modeled closing costs. Keep emergency savings and any lender-required reserves outside this cash figure. This is a cash-based price ceiling, not an income-based affordability or approval decision.

Cash needed from home price: enter a price and a down-payment percentage to calculate down payment plus closing costs. Down payment from price and cash: enter both amounts; the cash remaining after closing costs goes toward the purchase price. If it exceeds the price, the model caps the down payment at 100%, sets the loan to zero and reports unused cash.

Down payment and closing-cost formulas

down payment = home price x down-payment percentage / 100
loan amount = home price - down payment
purchase cash needed = down payment + estimated closing costs

Closing costs can be entered as a percentage of the home price or as one fixed dollar amount. For percentage costs, a cash-based price equals cash divided by the sum of the two decimal rates. For fixed-dollar costs, subtract those costs from cash before dividing by the down-payment rate. Unchecking closing costs excludes them entirely; it does not mean a real purchase has no fees.

A cash-only estimate has no finite price when both the down-payment and percentage closing-cost rates are zero. The calculator asks for a positive rate instead of inventing a price. With a fixed closing fee, the cash-only mode needs a positive down-payment percentage. Use a known home price for a zero-down scenario; eligibility is not assessed.

Worked purchase-cash example

For a $500,000 home, 20% down is $100,000. If closing costs are assumed to be 3% of the price, they add $15,000, so modeled purchase cash is $115,000 and the loan is $400,000. If instead the same home is paired with $100,000 total available cash, subtracting the $15,000 closing estimate leaves an $85,000 down payment, or 17%, and a $415,000 loan. These are arithmetic examples, not a recommendation to spend your entire savings.

What the monthly payment leaves out

The payment uses a fixed annual interest rate divided by 12 and a whole number of monthly payments. At zero interest, the principal is divided equally over the term. Do not enter APR that includes fees in place of the note interest rate. Supported terms run from one month through 100 years in whole-month increments; that mathematical range is not a list of available loan products.

Property taxes, homeowners insurance, mortgage insurance, HOA dues, maintenance and future rate changes are not included. Use the mortgage calculator to explore recurring housing costs and amortization, or the house affordability calculator to include income and debt constraints.

Purchase cash is not your final cash to close

Your lender's closing figures can account for deposits already paid, credits, prepaid items and other adjustments that this simplified model does not accept. The CFPB's Closing Disclosure explainer distinguishes closing costs from cash to close and helps you compare the lender's figures. Use actual lender documents before arranging payment.

Frequently asked questions

Does a 20% down payment apply to every mortgage?

No. The entered percentage is your planning assumption. Loan program rules, property, credit, fees and insurance vary; this calculator does not determine eligibility or insurance cancellation.

Can I enter closing costs in dollars?

Yes. Select the dollar-total unit to use a fixed fee estimate instead of a percentage. The two units describe different assumptions and are not automatically converted when switched.

Why does the calculator reject my available cash?

Cash must cover the included closing costs before it can fund a down payment. For a known price, increase cash or revise the cost estimate if cash falls short. Reducing an estimate does not eliminate a real expense.

Is the result lender approval?

No. It does not check credit, income, debt-to-income ratios, reserves, property appraisal or loan program limits. Review a comfortable budget separately.