Saving for a down payment is often the biggest hurdle to homeownership. Our calculator helps you visualize exactly how much you need to save based on either a specific dollar amount or a percentage of the home's purchase price.
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Down Payment Calculator
Calculate how much you need to save for your home purchase down payment.
Purchase Details
Quick Tips
• 20% down payment avoids PMI (Private Mortgage Insurance).
• FHA loans allow as little as 3.5% down.
• Remember to budget for closing costs (2-5% of home price).
Down Payment Summary
Required Down Payment
$100,000.00
20.00% of home price
Mortgage Loan Amount
$400,000.00
Amount to be financed
Saving Goal
To purchase a $500,000 home with a 20.00% down payment, your total cash needed for the down payment is $100,000.00.
Additional Considerations
Closing Costs
Estimate an additional 2-5% of the home price for taxes, lender fees, and title insurance.
Emergency Fund
Avoid using all your savings. Keep 3-6 months of expenses for repairs and unexpected costs.
Plan Your Home Purchase Down Payment
Calculate how much you need to save for your home purchase down payment. Plan your mortgage with FusioFiles.
1
Home Price
Enter the estimated purchase price of the home you want to buy.
2
Down Payment
Input either the dollar amount you've saved or the percentage you want to put down (e.g., 20%).
Key Features
Percentage or Amount
Toggle between entering a dollar amount or a percentage of the home price.
Loan Amount Preview
See how your down payment affects your total mortgage loan amount.
Saving Goal
Get a clear summary of what you need to save to hit your target.
Frequently Asked Questions
No, many loan programs (like FHA) allow for as little as 3.5% down, though 20% is recommended to avoid PMI.
A larger down payment reduces the loan amount, which lowers your monthly principal and interest payments.
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