Down Payment Calculator
The down payment sets your loan size, whether mortgage insurance applies, and how long you need to save. This calculator shows all three at once.
Down payment required
$55,000
10.0% of a $550,000 home.
- Loan amount
- $495,000
- Estimated monthly PMIApplies below 20% down.
- $248
- Principal & interest (30-year)
- $3,129
- Still needed
- $30,000
- Time to saveAbout 1.7 years at your current rate.
- 20 months
- 20% down would be
- $110,000
Common down payment levels
| Down payment | Amount | Loan | Monthly P&I | PMI |
|---|---|---|---|---|
| 3.5% | $19,250 | $530,750 | $3,355 | $265 |
| 5% | $27,500 | $522,500 | $3,303 | $261 |
| 10% | $55,000 | $495,000 | $3,129 | $248 |
| 15% | $82,500 | $467,500 | $2,955 | $234 |
| 20% | $110,000 | $440,000 | $2,781 | $0 |
What this means
Putting 10.0% down on a $550,000 home means $55,000 in cash and a $495,000 loan.
A larger down payment lowers the loan, the monthly payment, and mortgage insurance — but it also drains cash reserves. Many buyers deliberately put less down to keep an emergency fund intact. Closing costs are separate and typically add 2–5% of the price.
How this calculation works
- Down payment amount is the home price multiplied by the percentage you choose.
- PMI is estimated at roughly 0.6% of the loan per year when the down payment is below 20%.
- The savings timeline divides the remaining amount by your monthly savings, ignoring investment returns.
All results are estimates based on the assumptions you enter. RE View does not provide financial, tax, or lending advice.
Related calculators
Related guides
- What Is a Down Payment?
Why the down payment matters beyond the headline percentage.
- What Is PMI?
Private mortgage insurance: who pays it, how much it costs, and how to remove it.
- How Much Money Do I Need to Buy a Home?
Cash to close, reserves, and the costs that arrive right after closing.