Down Payment Calculator
Work out a down payment from a home price and percentage, or the percentage from the amount.
Runs 100% in your browser — nothing is uploaded.
Result
Formula
LTV = (price − down) ÷ price × 100
About this calculator
The Down Payment Calculator helps homebuyers determine the amount of money needed for a down payment on a home, express that amount as a percentage of the home price, and calculate the resulting loan-to-value (LTV) ratio. It supports two modes: entering a down payment amount or entering a percentage.
How to use
- 1
Enter the home price in the 'Home price' field.
- 2
To calculate the down payment amount, enter a percentage in the '…or percent' field. To calculate the percentage instead, enter the down payment amount in the 'Down payment' field.
- 3
View your down payment amount, down payment percentage, and loan-to-value (LTV) in the results.
Frequently asked questions
What is a good down payment percentage?
A down payment of 20% is often recommended because it allows you to avoid private mortgage insurance (PMI) and may secure better interest rates. However, many programs allow lower down payments, such as 3% to 10%, especially for first-time homebuyers.
How does the down payment affect my mortgage?
A larger down payment reduces the loan amount, which lowers your monthly payments and total interest paid over the life of the loan. It also reduces the LTV, which can improve your chances of approval and may eliminate the need for PMI.
What is LTV and why does it matter?
Loan-to-value (LTV) is the ratio of your mortgage balance to the home's value, expressed as a percentage. Lenders use LTV to assess risk: higher LTVs are riskier and may require PMI or higher interest rates. An LTV of 80% or less is generally considered favorable.
Please note: Results are estimates for general information only and are not professional or medical/financial advice.