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Down Payment Calculator
Calculate your home down payment target and how long it will take to save it at your current savings rate. PMI-avoidance check included.
FINANCEFind out how much you need for a home down payment, how long it will take to save it at your current rate, and whether your target avoids private mortgage insurance (PMI).
The 20% threshold avoids PMI on conventional loans. Lower down payments are widely available: FHA 3.5%, Fannie HomeReady 3%, VA/USDA 0%. Trade-offs: more down means lower monthly payment, no PMI, and faster equity buildup. Less down means more cash kept for emergency fund and repairs.
Disclaimer: Estimate only. Closing costs (2-5% of price) and reserves are separate from down payment and should be saved alongside it.
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Frequently Asked Questions
What is the Down Payment Calculator for?
Find out how much you need for a home down payment, how long it will take to save it at your current rate, and whether your target avoids private mortgage insurance (PMI).
How do I use the Down Payment Calculator?
The 20% threshold avoids PMI on conventional loans. Lower down payments are widely available: FHA 3.5%, Fannie HomeReady 3%, VA/USDA 0%. Trade-offs: more down means lower monthly payment, no PMI, and faster equity buildup. Less down means more cash kept for emergency fund and repairs.
How accurate are my down payment results?
Estimate only. Closing costs (2-5% of price) and reserves are separate from down payment and should be saved alongside it.
Is the Down Payment Calculator free to use?
Yes - every calculator on WhichCalc is completely free with no signup, no usage limits, and no tracking on the calculation itself. Results display instantly in your browser and your inputs are never sent to a server. Bookmark the page if you use this calculator regularly.
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