How much should I put down on a house?

There is no single right amount. Twenty percent avoids mortgage insurance on a conventional loan and gives the smallest payment. Less than that keeps more cash in your hands for repairs and an emergency fund, at the price of a bigger loan and usually PMI. Try several amounts in the table and compare the payment, the loan and the cash you would need.

What is the minimum down payment for a conventional loan?

It depends on the lender and the program. Some low-down-payment conventional programs allow as little as 3%, often with income limits and for first-time or low-income buyers, and many lenders ask for 5%. Ask for the minimum on your own loan. The calculator warns you when your number is under the usual minimum for the type you pick.

How much do you need to put down on an FHA loan?

Commonly 3.5% with a credit score of 580 or higher, and 10% with a lower score, under HUD's handbook. Confirm the current rules with your lender. FHA mortgage insurance is separate from PMI and often lasts for the life of the loan when you put down less than 10%.

Do I need 20% down to avoid PMI?

On a conventional loan, lenders usually require mortgage insurance when the loan is more than 80% of the home's value. At 20% down the loan is exactly 80%, so it usually is not required. Some lenders offer to build the cost into a higher rate instead, which does not come off later. The PMI calculator shows when a premium can end.

Why does cash to close come to more than the down payment?

Closing costs are paid on top of the down payment. This page estimates them as a share of the price, 3% to start, so you can see a realistic figure. Your Loan Estimate lists the real ones, and the closing cost calculator breaks them down line by line.

Does the savings plan include interest on my savings?

No. It divides what you still need by what you set aside each month and rounds up to a whole month. If your savings earn interest, you will get there slightly sooner. Gifts, a sale of another home or a change in your monthly amount also change the answer.

Down Payment Calculator

Pick a home price and a down payment. See the loan, the monthly payment, whether you pay PMI, the cash you need at closing and how long it takes to save.

Private by design. Your numbers stay on this device.

Educational estimates only. Not financial, tax, or lending advice.

Updated Oct 25, 2026

How much down payment do I need?

That depends on the loan. In the example below, 10% down on a $400,000 home is $40,000. The loan is $360,000, which is 90% of the price, so there is PMI of about $165.00 a month. With closing costs estimated at 3%, the cash to close is $52,000.

Putting $80,000 down (20%) removes the PMI and cuts the monthly payment to $2,022.62, but it needs $92,000 at closing. Saving $1,000 a month from $15,000 gets you to the 10% plan in 3 years 1 month.

Pick a price and a down payment, then see what it does to the loan and the cash you need.

Example: a $400,000 home with 10% down at 6.5%, $15,000 saved and $1,000 put aside each month. The figures are made up, and the PMI and closing cost rates are assumptions. Replace them with your own.

The home and the down payment

Home price

Enter the down payment as

Down payment percent

Loan type

Used for the usual minimum down payment and the type of mortgage insurance.

The loan

Type your own rate. Nothing here is a live quote.

Interest rate

Type your own rate, or fill in the weekly average with the button.

Loan term in years

PMI rate

A share of the loan each year. An assumption: your rate depends on your credit score and down payment.

Closing costs

A share of the price. An assumption: use the closing cost calculator or your Loan Estimate for a real figure.

Saving up

How long until you have the cash to close.

Saved so far

Saved each month

What this down payment does

Down payment

$40,000

10% of the price.

Loan amount

$360,000

Loan-to-value 90%.

Monthly payment

$2,440.44

$2,275.44 principal and interest plus $165.00 PMI. Tax and insurance are not included.

Cash to close

$52,000

$40,000 down plus about $12,000 of closing costs.

Anyone with this link sees these numbers. They sit in the link after the #, which browsers never send to a server, so sharing it transmits nothing to this site or anyone else’s. Nothing goes into a link until you click Share.

Do you need mortgage insurance?

Yes. Your loan is 90% of the price, so expect PMI of about $165.00 a month, until the balance reaches 80% around month 95.

Putting 20% down ($80,000) avoids it. See when it can come off with the PMI calculator.

Time to save the cash

3 years 1 month

You are short by $37,000. At $1,000 a month, with no interest on the savings, that takes 37 months.

More down, less loan

Loan, monthly payment and cash to close at different down payments
Down payment	Loan	Principal and interest	PMI	Cash to close
3% ($12,000)	$388,000	$2,452.42	$177.83	$24,000
5% ($20,000)	$380,000	$2,401.86	$174.17	$32,000
10% ($40,000)	$360,000	$2,275.44	$165.00	$52,000
15% ($60,000)	$340,000	$2,149.03	$155.83	$72,000
20% ($80,000)	$320,000	$2,022.62	$0	$92,000

Every row uses your rate, term and closing cost share. The first row is the usual minimum for the loan type you chose, and the figures are estimates: lenders set their own minimums.

How much to put down

More down means a smaller loan. It also means less cash left in your account.

The example home at different down payments
Down payment	Loan	Principal and interest	PMI	Cash to close
3% ($12,000)	$388,000	$2,452.42	$177.83	$24,000
5% ($20,000)	$380,000	$2,401.86	$174.17	$32,000
10% ($40,000)	$360,000	$2,275.44	$165.00	$52,000
15% ($60,000)	$340,000	$2,149.03	$155.83	$72,000
20% ($80,000)	$320,000	$2,022.62	$0	$92,000

A made-up $400,000 home at 6.5% over 30 years. PMI is an assumed 0.55% a year of the loan, and closing costs an assumed 3% of the price. Your quotes will differ.

Twenty percent is the usual benchmark because a conventional loan at or under 80% of the home’s value normally needs no mortgage insurance. A smaller down payment with PMI keeps more cash for repairs and an emergency fund, and PMI can come off later, as the PMI calculator shows. The guide to stopping PMI explains the rules.

Minimum down payments

Programs differ. Your lender sets the number that applies to you.

An FHA loan is commonly available with 3.5% down for a credit score of 580 or higher, under HUD’s handbook. Confirm the current rules with your lender. Some conventional programs allow 3% down, often with income limits, and many lenders ask for 5%. The calculator warns you when your number is below the usual minimum for the loan type you pick, but it cannot tell what your lender will approve. Read more in the FHA loan glossary entry.

The CFPB’s buying a home guide walks through loan costs and loan types, and it recommends comparing offers from several lenders.

The down payment is not all the cash you need

Closing costs come on top.

Cash to close is the down payment plus closing costs, minus any seller credit or earnest money already paid. This page estimates closing costs as a share of the price so you get a quick total, $12,000 in the example. For a real number, enter the lines from your Loan Estimate in the closing cost calculator.

To work backwards from your income instead, start with the home affordability calculator, then come back here to choose how much to put down. For the full monthly payment with tax and insurance, use the mortgage calculator. If you are putting down as little as 3.5%, the FHA loan calculator adds the FHA premiums.

Down payment questions

How much should I put down on a house?: There is no single right amount. Twenty percent avoids mortgage insurance on a conventional loan and gives the smallest payment. Less than that keeps more cash in your hands for repairs and an emergency fund, at the price of a bigger loan and usually PMI. Try several amounts in the table and compare the payment, the loan and the cash you would need.
What is the minimum down payment for a conventional loan?: It depends on the lender and the program. Some low-down-payment conventional programs allow as little as 3%, often with income limits and for first-time or low-income buyers, and many lenders ask for 5%. Ask for the minimum on your own loan. The calculator warns you when your number is under the usual minimum for the type you pick.
How much do you need to put down on an FHA loan?: Commonly 3.5% with a credit score of 580 or higher, and 10% with a lower score, under HUD's handbook. Confirm the current rules with your lender. FHA mortgage insurance is separate from PMI and often lasts for the life of the loan when you put down less than 10%.
Do I need 20% down to avoid PMI?: On a conventional loan, lenders usually require mortgage insurance when the loan is more than 80% of the home's value. At 20% down the loan is exactly 80%, so it usually is not required. Some lenders offer to build the cost into a higher rate instead, which does not come off later. The PMI calculator shows when a premium can end.
Why does cash to close come to more than the down payment?: Closing costs are paid on top of the down payment. This page estimates them as a share of the price, 3% to start, so you can see a realistic figure. Your Loan Estimate lists the real ones, and the closing cost calculator breaks them down line by line.
Does the savings plan include interest on my savings?: No. It divides what you still need by what you set aside each month and rounds up to a whole month. If your savings earn interest, you will get there slightly sooner. Gifts, a sale of another home or a change in your monthly amount also change the answer.