Home Buying
Down Payment Calculator
Calculate your down payment, loan amount, and monthly mortgage payment.
Home Price
$
Total purchase price of the home
Down Payment
$
%
Enter amount or percentage. 20% down avoids PMI.
Interest Rate
%
Annual mortgage interest rate
Loan Term
Loan repayment period
Down
0%
Monthly Payment
$0
principal + interest
Down Payment Amount
$0
Loan Amount
$0
Total Interest Paid
$0
Total Cost
$0
📊 Payment Breakdown
| Metric | Amount | % of Price |
|---|
How the formula works
Down Payment = Home Price × (Down Payment % ÷ 100) | Loan Amount = Home Price − Down Payment
- Down Payment = Amount paid upfront (typically 5-20% of home price)
- Loan Amount = Home Price − Down Payment
- Monthly Payment = [Loan Amount × (r/12) × (1 + r/12)^n] / [(1 + r/12)^n − 1]
- Total Interest = (Monthly Payment × n) − Loan Amount
- A higher down payment = lower monthly payment and less interest