Down Payment Calculator
A smaller down payment gets you in sooner; a larger one lowers the payment and can remove mortgage insurance. Compare the common options on the same home in one table.
Cash needed to close
$93,750
10.0% down ($75,000) plus about $18,750 in closing costs on a $750,000 home.
- Down payment80%
- Closing costs20%
- Down payment
- $75,000
- Loan amount
- $675,000
- Principal and interest
- $4,378
- Private mortgage insurance
- $281
- Principal, interest and PMI
- $4,659
- Cash needed to close
- $93,750
Compared with 20% down, 10.0% down costs about $768 more a month in principal, interest and PMI, and needs $75,000 less cash today.
| Down payment | Down amount | Loan | Principal and interest | Mortgage insurance | Cash to close |
|---|---|---|---|---|---|
| 3% | $22,500 | $727,500 | $4,719 | $303 PMI | $41,250 |
| 3.5% (FHA) | $26,250 | $736,416 incl. UFMIP | $4,776 | $332 MIP | $45,000 |
| 5% | $37,500 | $712,500 | $4,621 | $297 PMI | $56,250 |
| 10% | $75,000 | $675,000 | $4,378 | $281 PMI | $93,750 |
| 20% | $150,000 | $600,000 | $3,892 | None | $168,750 |
Estimates for illustration only, not a loan offer or a commitment to lend. Rates, taxes, insurance and program rules vary; our team will confirm exact figures for your situation.
How this calculator works.
For each option the calculator works out the down payment, the loan, and the monthly principal and interest at the rate and term you enter. Your own chosen percentage is shown at the top.
Conventional loans under 20% down carry private mortgage insurance, estimated here with an annual rate you can change. The 3.5% row is treated as an FHA loan: the 1.75% upfront mortgage insurance premium is added to the loan and annual MIP is charged monthly.
Cash needed adds an estimate of closing costs to the down payment. Closing costs in California often run 2% to 3% of the price for a buyer; the closing costs calculator breaks them down line by line.
Loan = price − down payment. Cash to close = down payment + closing costs (as % of price).
Common questions.
Turn the estimateinto real numbers.
Answer a few questions and our team will price your scenario with current rates and the right program.
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