Down Payment Calculator
See the cash any down-payment percentage requires, whether it clears the 20% PMI threshold, the loan you'd be left with, and how long it takes to save.
Your goal
= $80,000
Time to reach your Down payment
4 years 9 months
Goal: $80,000 (20% of $400,000)
Resulting loan
$320,000
Est. principal & interest
$2,022.62
20% equity threshold
$80,000
At 20% down you reach the 20% mark and avoid Mortgage insurance from the start.
A bigger Down payment lowers your loan and payment, but ties up cash you could invest. See the trade-off in the opportunity-cost guide.
How this calculator works
Your target down payment is simply the chosen percentage of the home price. We subtract it from the price to show the resulting loan and estimate the monthly principal and interest. To estimate your savings timeline, we start from your current savings and add your monthly contribution each month, compounding at your savings rate, until you hit the goal.
A bigger down payment lowers your loan and can remove PMI, but the cash it ties up could otherwise be invested. That trade-off is the heart of the opportunity-cost guide, and it feeds directly into the rent vs buy decision.
Frequently asked questions
How much should I put down on a house?
20% is the classic target because it avoids PMI, but many buyers put down less to buy sooner or keep cash invested. The right amount depends on your mortgage rate versus your expected investment return, your need for liquidity, and how much PMI would cost. Try several percentages to compare.
Do I need 20% down to buy?
No. Many loans allow far less — sometimes 3–5%. Putting less down means a bigger loan, a higher payment, and (in the US) PMI until you reach 20% equity. This calculator shows the cash needed and the trade-offs at any percentage.
How long will it take to save a down payment?
Enter your current savings, monthly contribution, and a savings return rate, and the calculator compounds your balance month by month until it reaches your goal — then reports the time in years and months.