Down Payment Calculator

The Down Payment Calculator shows how different down payment amounts affect your monthly mortgage payment, total interest paid, and PMI (Private Mortgage Insurance) costs. It compares scenarios at 5%, 10%, 15%, and 20% down to help you choose the right balance between cash outlay and monthly obligation. Enter the home price and mortgage rate to see side-by-side comparisons. For down payments below 20%, the calculator adds estimated PMI costs which typically range from 0.5% to 1.5% of the loan amount annually until you reach 20% equity. A larger down payment reduces your monthly payment and eliminates PMI, but it also ties up cash that could be invested elsewhere. This calculator helps you quantify the trade-off so you can decide whether stretching for a larger down payment makes financial sense.