Estimate your down payment, mortgage amount, and loan-to-value ratio when buying a home.
The Numelios Down Payment Calculator helps estimate the cash needed for a home down payment, the resulting mortgage amount, and the loan-to-value ratio based on the purchase price and down payment percentage.
It can be used to compare common down payment levels and understand how a larger or smaller down payment may affect the size of the mortgage.
The down payment is calculated as a percentage of the home purchase price.
The remaining amount becomes the estimated mortgage principal.
Suppose a home costs $400,000 and you make a 20% down payment.
Some mortgage programs allow relatively low down payments, though eligibility and mortgage insurance requirements may apply.
A 5% down payment reduces the amount financed compared with minimum-down-payment options while still preserving more cash.
A larger down payment can reduce the mortgage balance and potentially lower monthly housing costs.
A 20% down payment results in an 80% loan-to-value ratio and may eliminate private mortgage insurance requirements on many conventional loans.
Loan-to-value ratio, or LTV, compares the mortgage balance with the value or purchase price of the property.
A lower LTV generally means the borrower is financing a smaller percentage of the property's value.
The down payment is only one part of the upfront cost of purchasing a home. Buyers may also need funds for lender fees, title charges, taxes, prepaid insurance, escrow deposits, and other closing expenses.
Use the Closing Cost Calculator to estimate additional cash that may be required at closing.
Not always. Some mortgage programs permit lower down payments. Requirements depend on the loan program, lender, borrower profile, and property.
A larger down payment reduces the amount borrowed and may lower the monthly mortgage payment and total interest paid.
Private mortgage insurance may be required on certain conventional mortgages when the borrower finances a high percentage of the home's value.
The down payment and closing costs are separate components of the total cash needed to complete a home purchase.
It can. Loan-to-value ratio is one of many factors that may influence mortgage pricing and qualification.
This calculator is provided for informational and educational purposes only. Results are estimates and do not constitute financial advice, mortgage approval, or a loan offer.