Loan Down Payment

How Much Down Payment?

Down payment	$		$
Interest Rate		%
Term (years)
Discount points	$		$
Origination fee	$		$
Upfront costs	$		$
Your savings rate				%
Your state + federal tax rate				%
Purchase price			$
Yearly property tax			$
Yearly property insurance			$
Years before you sell or pay off loan

	Less Down	More Down
Percentage down	3.79%	7.58%
Loan amount	$158,750.00	$152,500.00
Principal and interest	$1,003.41	$938.97
Taxes and insurance	$475.00	$475.00
Mortgage insurance	$111.13	$99.13
Total payment	$1,589.53	$1,513.09

This calculator calculates your monthly mortgage payment for two loans, given a down payment and other loan terms.

Payments are shown for principal and interest (P+I) and combined (P+I+T+I) payments. Combined payments include insurance and taxes.

If you enter a down payment that is less than 20% of the home purchase price, the calculator estimates a monthly amount for private mortgage insurance (PMI). Mortgage lenders generally require that you obtain mortgage insurance if your down payment is less than 20% of the home purchase price.

The cost disadvantage of making a smaller down payment is less if you intend to live in the home for only a few years.