Down Payment Calculator
Calculate how much you need for a down payment on a home, car, or any purchase. See the remaining loan amount at common percentages.
Free Down Payment Calculator
The SmarterSources Down Payment Calculator helps you figure out exactly how much money you need for a down payment at any percentage. Whether you're buying a home, car, or making any large purchase, this tool shows your down payment amount and remaining loan balance.
How Much Down Payment Do You Need?
Home (mortgage): 20% avoids PMI, but 3-5% is possible with conventional loans, 3.5% with FHA, and 0% with VA/USDA. Car: 20% for new, 10% for used. General: More down = lower payments and less interest.
Benefits of a Larger Down Payment
A bigger down payment means borrowing less, which reduces monthly payments, total interest paid, and may qualify you for better interest rates. For homes, 20% down eliminates the need for private mortgage insurance (PMI), saving $100-300+/month.
Frequently Asked Questions
How much is a 20% down payment on a $350,000 home?
$350,000 × 0.20 = $70,000. You would need $70,000 for the down payment and would finance $280,000.
Can I buy a house with less than 20% down?
Yes. FHA loans require 3.5% down, conventional loans can go as low as 3%, and VA/USDA loans offer 0% down. However, less than 20% typically requires PMI.
Is my data safe?
Yes. This calculator runs entirely in your browser. No data is sent to any server and nothing is stored.