Down Payment Calculator — How Much Should You Put Down? 2026
See exactly what your down payment gets you: the loan amount, the monthly payment, private mortgage insurance and total interest — plus a side-by-side look at 5%, 10%, 15% and 20% down.
Results
5% vs. 10% vs. 15% vs. 20% Down
| 5% | 10% | 15% | 20% | |
|---|---|---|---|---|
| Down Payment | — | — | — | — |
| Loan Amount | — | — | — | — |
| Monthly Payment (incl. PMI) | — | — | — | — |
| Monthly PMI | — | — | — | — |
Monthly Payment by Down Payment
How to Use the Down Payment Calculator
Enter the home price, the percentage you plan to put down, the interest rate and the loan term. The calculator instantly shows the down payment amount, the loan you need, your loan-to-value ratio, the monthly principal-and-interest payment plus PMI, and the total interest over the life of the loan. The comparison table shows what the same home costs with 5%, 10%, 15% and 20% down.
Why a Larger Down Payment Matters
A larger down payment means a smaller loan, so you pay less interest over time and your monthly payment is lower. The big milestone is 20%: below it, most lenders require private mortgage insurance, which adds to your monthly cost until you build 20% equity. On a $400,000 home, moving from 5% to 20% down can save several hundred dollars a month once you include PMI.
How to Avoid PMI
The simplest way to avoid PMI is to put down at least 20%. Alternatives include lender-paid mortgage insurance, which comes with a slightly higher rate, or an 80-10-10 piggyback loan structure that splits financing into a first and second mortgage. If you already pay PMI, you can usually request its removal once your loan balance falls to 80% of the original home value.
Down Payment Assistance Programs
Many first-time buyers qualify for down payment assistance from state housing agencies, local programs and FHA, VA or USDA loans, which allow down payments as low as 0% to 3.5%. VA loans are the only option with no down payment requirement for eligible veterans and service members. Check what your state offers before you assume you need a 20% down payment.
Frequently Asked Questions
How much should you put down on a house?
Putting 20% down avoids private mortgage insurance (PMI), but you do not have to wait until you have 20% to buy. With a conventional loan you can put down as little as 3%, and FHA loans allow 3.5%. Many buyers put down 5% to 10% and drop PMI later once they reach 20% equity.
What is the minimum down payment for a conventional loan?
Conventional loans allow a minimum down payment of 3% of the purchase price, though lenders may have credit score requirements. If you put down less than 20%, you generally pay private mortgage insurance (PMI) until you build 20% equity.
Does a larger down payment lower your monthly payment?
Yes. A larger down payment reduces the loan amount, so your principal and interest payment is lower. Once you reach 20% down, you also stop paying PMI, which lowers the monthly cost even further. A 20% down payment on the same home can save hundreds of dollars a month compared with 5% down.