How much should I put down for a new home?

This calculator calculates your monthly mortgage payment for two loans, given a down payment and other loan terms.

Payments are shown for principal and interest (P+I) and combined (P+I+T+I) payments. Combined payments include insurance, taxes, and private mortgage insurance where applicable.

If you enter a down payment that is less than 20% of the home purchase price, the calculator estimates a monthly amount for private mortgage insurance (PMI). Mortgage lenders generally require that you obtain mortgage insurance if your down payment is less than 20% of the home purchase price.

The cost disadvantage of making a smaller down payment is less if you intend to live in the home for only a few years.


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