Calculate the minimum down payment required and explore different down payment scenarios
Property & Loan Details
Property Information
$50,000$5,000,000
Down Payment Options
3%
FHA Loan
5%
Conventional
10%
Standard
15%
Better Terms
20%
No PMI
Custom
Enter %
Savings Information
Additional Costs
Typically 2-5% of purchase price
Down Payment Analysis Results
Required Down Payment
$52,500
for a $350,000 property
Down Payment %
15%
Loan Amount
$297,500
Closing Costs
$10,500
Total Cash Needed
$63,000
Savings Progress
Current Savings: $40,000Target: $63,000
You need $23,000 more to reach your goal
Cash Requirements Breakdown
Down Payment (15%)$52,500
Closing Costs (3%)$10,500
Prepaid Expenses$2,500
Moving & Initial Costs$1,500
Total Cash to Close$63,000
Loan & Monthly Cost Impact
Loan Amount$297,500
Estimated Monthly PMI$124
PMI Duration (months)60
Total PMI Cost$7,440
Savings Timeline
Current Savings$40,000
Monthly Savings$1,500
Months to Reach Goal15.3
Estimated Goal DateMarch 2025
Note: Closing costs vary by location and lender. PMI may be required if down payment is less than 20%. This calculator provides estimates for planning purposes only.
Disclaimer: Down payment requirements vary by loan type, credit score, and lender. FHA loans require 3.5% minimum down payment. Conventional loans typically require 5-20%. VA and USDA loans may offer 0% down options for eligible borrowers.