Use this down payment calculator to explore how different down payment amounts impact your loan size, loan-to-value (LTV), potential PMI, and estimated monthly mortgage payment. Compare 5%, 10%, 15%, and 20% down in seconds and find a strategy that fits your budget.

How Your Down Payment Changes the Math

Higher down payments reduce your loan amount, lower your LTV, and can eliminate PMI once LTV ≤ 80%. That often means a noticeably smaller monthly payment and thousands saved in lifetime interest.

• 5–10% down: Lower upfront cash, likely PMI required.
• 15% down: Smaller PMI, more equity from day one.
• 20%+ down: No PMI in most cases; better payment and LTV.

Tip: If PMI applies initially, you can request removal when your balance reaches 80% of original value (and it typically auto-terminates at 78% if you’re current).

Disclaimer: This tool is for education only and is not financial or lending advice. Terms vary by lender and program.