Home Down Payment Calculator
Work out your down payment, loan amount, and how much to save each month to reach it.
This runs entirely in your browser. Nothing you type is uploaded or stored.
How to use this tool
Enter the home price, then pick a down payment percent. The 3.5% option matches the common FHA loan minimum, 10% is a middle ground, and 20% is the classic benchmark that usually lets you skip private mortgage insurance. You can also type a custom percent. Add anything you have already saved and a target date, then press Calculate. The tool shows your down payment, the loan amount you would borrow, what is left to save, and how much to set aside each month to reach the goal on time.
The formula
Loan amount = Home price − Down payment
Still need to save = Down payment − Already saved
Monthly saving = Still need to save ÷ Months until target date
The math is simple multiplication and subtraction. The down payment is a slice of the purchase price, and whatever you do not pay up front becomes the loan you finance. To build a savings plan, the remaining amount is divided by the number of whole months between today and your target date.
A real example
Say a house is priced at $350,000 and you choose the 20% benchmark. The down payment is 350,000 × 0.20 = $70,000, which leaves a loan of $280,000. If you have already saved $10,000, you still need $60,000. With a target date 30 months away, you would save 60,000 ÷ 30 = $2,000 per month to hit your goal on time. Switch to the 3.5% FHA option and the down payment drops to $12,250, with a larger $337,750 loan.
Common questions
How much should I put down on a house?
There is no single right answer. A 20% down payment usually lets you avoid private mortgage insurance and lowers your monthly payment, but many buyers put down less. FHA loans often allow as little as 3.5%, which gets you into a home sooner but means a bigger loan and added insurance costs.
What is the 20 percent home benchmark?
Putting down 20% of the purchase price has long been treated as the standard target. At that level most conventional lenders drop the private mortgage insurance requirement, so it is a common goal even though it is not a legal rule.
How does this FHA loan down payment helper work?
Select the 3.5% tab to model the typical FHA minimum. The tool then shows the smaller down payment and the correspondingly larger loan amount, so you can compare it side by side with 10% or 20% before deciding.
Why calculate a monthly savings amount?
Knowing the lump sum is one thing, but a plan to save for a property deposit needs a monthly number. Dividing what you still owe by the months left until your target date gives a clear, steady amount to set aside.
Is this calculator accurate enough to buy a home?
It gives a solid estimate of the down payment and loan size, but it does not include closing costs, taxes, insurance, or interest. Treat the numbers as a planning guide for educational use, not professional financial advice. Confirm details with a lender before you commit.