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Down Payment Calculator
Plan your down payment and see how different amounts affect your mortgage
Currency
Home Purchase
3%30%
Your Savings
Amount you can save each month
Loan Assumptions
0%15%
10 years30 years
Target Amount
$0.00
20% of home price
Amount Needed
$0.00
Still to save
Time to Goal
0 years
0 months
Monthly PMI
$0.00
No PMI needed!
Savings Progress
$0.00 saved0.0% complete
$0.00Goal: $0.00
Target Date
N/A
To save in 1 year
$0.00/mo
To save in 2 years
$0.00/mo
PMI Analysis
PMI Required
No (LTV <= 80%)
Monthly PMI
$0.00
Months Until PMI Removal
0
Total PMI Cost
$0.00
Additional to Avoid PMI
$0.00
Monthly Savings (No PMI)
$0.00
Down Payment Scenarios
No data available
Total Cash Needed at Closing
Down Payment(0.0%)
$0.00Estimated Closing Costs(0.0%)
$0.00Understanding Down Payments
- - A 20% down payment avoids Private Mortgage Insurance (PMI)
- - Many loan programs accept as little as 3% down (Conventional) or 3.5% (FHA)
- - VA and USDA loans may offer 0% down payment options for eligible buyers
- - PMI typically costs 0.3% to 1.5% of the loan amount annually
- - Don't forget to budget for closing costs (typically 2-5% of home price)
- - Keep an emergency fund separate from your down payment savings