Down Payment Calculator
See how your down payment changes loan size, PMI, and monthly cost.
Down payment needed
$80,000
Loan amount
$320,000
PMI
Not required
Closing costs (est. 2–5%)
$8,000–$20,000
How much is enough
20% down avoids private mortgage insurance and gets the best rates, but it isn't a legal minimum: conventional loans go to 3% down, FHA to 3.5%, and VA/USDA to 0% for those who qualify. PMI on a low-down loan runs roughly 0.3–1.5% of the balance yearly until you reach 20% equity.
Don't forget cash at closing
Beyond the down payment, budget 2–5% of the price for closing costs, plus moving and immediate repairs. Draining every dollar into the down payment leaves no buffer — most lenders like to see reserves of 2–6 months of payments.
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