Down Payment Calculator

The percent down is only part of the cash. Closing costs sit on top, and you can change that percent. This is not a lender's cash-to-close.

Written for Equidwell and last checked in October 2026. We build the calculators on this site. We are not a lender, and this page is not advice for your loan.

PMI below 20% down is an estimate of 0.50% of the loan per year. Closing costs are a percent you choose, not a quote.

Home price

Interest rate

Example rate, not a live quote.

Annual property tax

Annual insurance

Closing-cost assumption

First payment month

Cash required is the down payment plus the closing-cost assumption. It does not include reserves a lender may ask for.

Down payment comparison
Down payment	Cash required	Loan	Monthly payment	PMI
5% · $20,000.00	$28,000.00	$380,000.00	$3,139.67	$158.33 estimate
10% · $40,000.00	$48,000.00	$360,000.00	$3,001.62	$150.00 estimate
15% · $60,000.00	$68,000.00	$340,000.00	$2,863.57	$141.67 estimate
20% · $80,000.00	$88,000.00	$320,000.00	$2,592.18	None in this model

How this calculator works

Each column uses the same home price, rate, taxes, and insurance.
The down payment is 5%, 10%, 15%, or 20% of the price.
PMI is estimated only when the loan is above 80% of the price.
Cash required adds the closing-cost percent to the down payment.

A larger down payment buys a smaller loan

Going from 5% to 20% means more cash on closing day, a smaller loan, and, in this model, no PMI. The monthly payment usually falls for both reasons.

Read it as a cash-versus-payment comparison. It will not tell you to empty an emergency fund. Reserves are not in the columns.

Sources

CFPB: Owning a home

Common questions

Is 20% required?

No. The 20% column is the point where this model stops estimating PMI. Many loan types allow less down, with their own mortgage-insurance rules.

Are closing costs the same in every state?

No. The percent here is an assumption you edit. It is not a state schedule.

Mortgage Payment Calculator
Estimate a US mortgage payment with principal, interest, taxes, insurance, HOA, and PMI. See the payoff date and amortization schedule.
PMI Calculator
Estimate monthly PMI and when a conventional loan balance would reach 80% and 78% of the original value.
Closing Cost Calculator
Add up editable estimates for origination, appraisal, title, recording, and other closing costs. A state name labels the estimate only.

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