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Free Down Payment Calculator

Work out exactly how much you need to put down on a home. Enter a purchase price and a percentage to get the dollar amount, or enter a fixed dollar amount to get the percentage. Either way you instantly see the loan amount and loan-to-value ratio.

Down payment amount
$60,000
Purchase price
$300,000
Down payment
$60,000 (20%)
Loan amount
$240,000
Loan-to-value (LTV)
80%

Down payment = price × percentage ÷ 100. Loan amount = price − down payment. This is the financed principal only; closing costs are separate.

Estimate only. This calculator provides estimates based on the values you enter and the formula shown. It is not financial advice and may not reflect every fee, tax, or lender requirement. Check figures with a qualified professional before making financial decisions.

Quick answer

Your down payment in dollars equals the purchase price times the percentage divided by 100, so a 20% down payment on a $300,000 home is 300,000 × 20 ÷ 100 = $60,000. The loan amount is the price minus the down payment: $300,000 − $60,000 = $240,000. To go the other way, divide a fixed down payment by the price and multiply by 100 — $45,000 on a $300,000 home is 15%.

Formula & method

The calculator works in two directions. In percentage mode it multiplies the purchase price by the percentage and divides by 100 to get the down payment in dollars, then subtracts that from the price to get the loan amount. In dollar-amount mode it divides your fixed down payment by the purchase price and multiplies by 100 to get the percentage, then subtracts the amount from the price for the loan. In both modes it also reports the loan-to-value ratio (loan ÷ price × 100) and flags when the down payment is under 20%, since that typically triggers private mortgage insurance on a conventional loan. A down payment larger than the price is capped at 100% so the loan never goes negative. All math runs in your browser.

Examples

Example 1: 20% down on a $300,000 home
Input
Price $300,000, 20% down
Result
$60,000 down, $240,000 loan
Why
Down payment = 300,000 × 20 ÷ 100 = $60,000. Loan amount = 300,000 − 60,000 = $240,000. Loan-to-value is 240,000 ÷ 300,000 × 100 = 80%, so no PMI on a conventional loan.
Example 2: Find the percentage from a fixed amount
Input
Price $300,000, $45,000 down
Result
15% down, $255,000 loan
Why
Percentage = 45,000 ÷ 300,000 × 100 = 15%. Loan amount = 300,000 − 45,000 = $255,000. Because 15% is below 20%, PMI would usually apply until you reach 20% equity.
Example 3: FHA-style 3.5% minimum
Input
Price $450,000, 3.5% down
Result
$15,750 down, $434,250 loan
Why
Down payment = 450,000 × 3.5 ÷ 100 = $15,750. Loan amount = 450,000 − 15,750 = $434,250. The loan-to-value is 96.5%, well above 80%, so mortgage insurance applies.
Example 4: 10% down on a $500,000 home
Input
Price $500,000, 10% down
Result
$50,000 down, $450,000 loan
Why
Down payment = 500,000 × 10 ÷ 100 = $50,000. Loan amount = 500,000 − 50,000 = $450,000, an LTV of 90%. Remember closing costs (often roughly 2–5% of the price) are paid on top of this down payment.

When to use this tool

  • Figuring out how much cash you need to put down before you shop for a home or make an offer.
  • Converting a savings target into a percentage, or a target percentage into a dollar goal.
  • Checking whether your planned down payment clears the 20% threshold that avoids PMI on a conventional loan.
  • Comparing how different down payments change the loan amount and loan-to-value ratio before talking to a lender.

Common mistakes

  • Confusing the down payment with cash to close. Closing costs — often around 2–5% of the price — are paid on top of the down payment, so the total cash you need is higher.
  • Assuming a smaller down payment has no cost. Putting down less than 20% raises the loan amount, the monthly payment, and usually adds private mortgage insurance (PMI) until you reach 20% equity.
  • Entering the percentage as a decimal. Type 20 for twenty percent, not 0.20; the tool already divides by 100.
  • Treating the loan amount as the only financed cost. Some loans roll fees or upfront mortgage insurance into the balance, so the actual amount financed can be slightly higher.
  • Forgetting that a higher price needs more cash for the same percentage. 20% of $500,000 is $100,000, far more than 20% of $300,000.

Frequently asked questions

How do I calculate a down payment amount?

Multiply the purchase price by the down payment percentage and divide by 100. For example, 15% of a $300,000 home is 300,000 × 15 ÷ 100 = $45,000. Switch the tool to dollar-amount mode to do the reverse and find the percentage from a fixed amount.

How much should I put down on a house?

There is no single right answer. A 20% down payment lets you avoid private mortgage insurance on a conventional loan and lowers your monthly payment, but many loan programs allow far less — some conventional loans accept 3%, and FHA loans 3.5%. A larger down payment means a smaller loan and less interest over time.

What is loan-to-value (LTV) and why does it matter?

LTV is the loan amount divided by the home's price, expressed as a percentage. A 20% down payment gives an 80% LTV. Lenders use LTV to price your loan and to decide whether mortgage insurance is required — an LTV above 80% usually means PMI applies.

Does a down payment under 20% require PMI?

On a conventional loan, a down payment below 20% (LTV above 80%) typically requires private mortgage insurance until you build 20% equity. Government-backed loans such as FHA, VA, and USDA have their own insurance or guarantee rules instead.

Is the down payment the only cash I need at closing?

No. You also pay closing costs — lender fees, title, escrow, prepaid taxes and insurance — which often run roughly 2–5% of the purchase price. Your total cash to close is the down payment plus those costs, minus any seller or lender credits.

Does a bigger down payment lower my monthly payment?

Yes. A larger down payment reduces the loan amount, which lowers both the principal you repay and the interest charged on it, and it can remove PMI. Use the resulting loan amount here with a mortgage or loan payment calculator to see the monthly figure.

Is this calculator financial advice?

No. It is an informational tool that shows the math behind a down payment, loan amount, and LTV. Actual loan terms, insurance rules, and the down payment you qualify for depend on your lender, credit, and loan program. Confirm details with a licensed lender.

Sources & references

External references open in a new tab. We are independent and not affiliated with these organizations.

Disclaimer

This calculator provides estimates based on the values you enter and the formula shown. It is not financial advice and may not reflect every fee, tax, or lender requirement. Check figures with a qualified professional before making financial decisions.

  • ✓ Free to use
  • ✓ No sign-up required
  • ✓ Runs entirely in your browser — nothing is uploaded.
  • ✓ Formula and method shown above
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Provided “as is” for general information only — results may be inaccurate, so verify before you rely on them. No warranty; use at your own risk.

Built and reviewed by HIFreeTools against the formula shown above and any authoritative references cited on this page. See our methodology and editorial standards.

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