Down Payment Calculator

How it works

Your down payment is the part of the price you pay in cash; the rest is the loan. Choose whether to enter it as a percentage of the price or as a dollar amount, and the calculator gives you the other.

Loan-to-value (LTV) is the loan divided by the price. It drives two costs. Above 80% LTV, which is less than 20% down, a conventional lender usually requires private mortgage insurance. And a loan above the conforming limit is a jumbo loan that Fannie Mae and Freddie Mac cannot buy, which usually means stricter underwriting.

Loan programs also set a minimum down payment. Enter your program's minimum to check that your amount clears it.

Formula

down = price × down % ÷ 100        (or the amount you enter)
down % = down ÷ price
loan = price − down
LTV = loan ÷ price
PMI likely when LTV > 80%
more down to reach 20% = max(0, 20% × price − down)
jumbo when loan > conforming limit

Example

10% down on a $400,000 home is $40,000, leaving a $360,000 loan at 90% LTV. That is above 80%, so a conventional loan will likely need PMI; another $40,000 down would bring it to 20%. The loan is well within the 2026 conforming limit of $832,750.

On a $1,000,000 home, $150,000 down is 15% and leaves an $850,000 loan, which is a jumbo loan $17,250 over the limit.

Assumptions and limitations

• The price is taken as the home's value. Lenders use the lower of the price and the appraised value, so a low appraisal raises your LTV.
• The conforming limit defaults to the 2026 baseline for one-unit homes ($832,750, FHFA, announced November 25, 2025). Limits are higher in high-cost areas and for two- to four-unit homes; enter your county's figure.
• The 80% PMI threshold applies to conventional loans. FHA loans charge mortgage insurance at any down payment, and VA loans charge a funding fee instead.
• Program minimums are typical figures and depend on credit score, property type and lender overlays.
• This is an estimate for planning, not financial, tax or legal advice.

Frequently asked questions