Down Payment Calculator — Home Purchase Cash Needed
Find out exactly how much cash you need to buy a home: enter the purchase price, your chosen down payment percentage and estimated closing costs to see the down payment amount, loan amount, loan-to-value (LTV) ratio and total out-of-pocket cash required on closing day.
$
%
%
Cash paid upfront toward the home purchase price
Home price
$350,000Down payment
19.4%
Loan amount
77.7%
Closing costs
2.9%
- 1
Loan amount
350,000 − 70,000 = 280,000 - 2
Closing costs
350,000 × 3% = 10,500 - 3
Down payment
350,000 × 20% = 70,000
How does this calculator work?
Down payment = home price × chosen %. Subtract it from the price to get the loan amount (LTV = loan ÷ price × 100). Add closing costs (typically 2–5% in the US, editable) for total cash needed on closing day. A 20% down payment on a $350,000 home = $70,000 down, $280,000 loan, and roughly $10,500 in closing costs.
Formula
How this is calculated
The down payment is the percentage of the purchase price you pay from your own funds at closing. Common US loan minimums are 3.5% for FHA loans, 3–5% for conventional loans, and 0% for VA and USDA loans. Putting down less than 20% on a conventional loan typically triggers private mortgage insurance (PMI), adding to the monthly cost until the LTV ratio drops below 80%.
Closing costs cover lender origination fees, appraisal, title search, title insurance, escrow and prepaid items such as property taxes and homeowners insurance. In the United States they typically run 2–5% of the purchase price, though they vary by state and lender — the default 3% used here is an editable estimate; enter a real quote once you have one.
Loan-to-value (LTV) is the loan amount expressed as a percentage of the purchase price. Lenders use LTV to price the loan — a lower LTV usually means a better interest rate and no PMI. The total cash needed is down payment plus closing costs: this is the liquid cash you must have available on closing day, in addition to any funded mortgage.
Frequently asked questions
Minimum requirements depend on the loan type: 3.5% for FHA loans (with credit score ≥ 580), 3–5% for conventional, 0% for VA and USDA loans. Putting down 20% eliminates private mortgage insurance (PMI) and lowers the monthly payment, but is not required for most programs.
Closing costs are fees paid at the settlement of a real estate transaction — including loan origination, appraisal, title insurance, prepaid property taxes and homeowners insurance, and escrow. In the US they typically total 2–5% of the purchase price; your lender must provide a Loan Estimate with the exact figures.
LTV is the mortgage loan balance divided by the home's appraised or purchase value, expressed as a percent. A lower LTV means you borrow less relative to the home value, reducing lender risk. An LTV above 80% usually requires PMI on a conventional loan; LTV below 80% often unlocks better interest rates.
Also known as
TG we-Calculate Editorial Team. (2026). Down Payment Calculator — Home Purchase Cash Needed [Online calculator]. TG we-Calculate. https://we-calculate.com/calculator/down-payment-calculator
TG we-Calculate Editorial Team. "Down Payment Calculator — Home Purchase Cash Needed." TG we-Calculate. 2026. https://we-calculate.com/calculator/down-payment-calculator.
TG we-Calculate Editorial Team, "Down Payment Calculator — Home Purchase Cash Needed," TG we-Calculate, 2026. [Online]. Available: https://we-calculate.com/calculator/down-payment-calculator
@misc{wecalculate_down_payment_calculator, title = {Down Payment Calculator — Home Purchase Cash Needed}, author = {{TG we-Calculate Editorial Team}}, howpublished = {\url{https://we-calculate.com/calculator/down-payment-calculator}}, year = {2026}, note = {TG we-Calculate} }
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