Down Payment Calculator
Calculate your required down payment, resulting loan amount, and loan-to-value ratio for any home price.
Down Payment Calculator
Calculate your required down payment, resulting loan amount, and loan-to-value ratio for any home price.
Real-World Examples
Home price: $400,000, down: 20%
Down: $80,000, loan: $320,000, LTV: 80%
Home price: $300,000, down: 3.5%
Down: $10,500, loan: $289,500, LTV: 96.5%
Home price: $500,000, down: 10%
Down: $50,000, loan: $450,000, LTV: 90%
Common Mistakes to Avoid
Thinking 20% down is always required
Fix: Many loan programs allow less than 20% down: conventional loans can require as little as 3-5%, FHA loans 3.5%, and VA/USDA loans 0%. However, putting down less usually means paying PMI.
Forgetting closing costs on top of the down payment
Fix: Closing costs (2-5% of the price) are due at closing in addition to your down payment. Budget for both when saving for a home purchase.
Confusing LTV with equity
Fix: LTV is the loan as a percentage of value; equity is the inverse. An 80% LTV means 20% equity. As you pay down the loan or the home appreciates, LTV drops and equity rises.