Translate a down-payment percentage into dollars, see the loan you would need, and check whether you clear the 80% LTV line that avoids PMI.
How it works
- Enter the target home price.
- Provide your down payment as a percentage.
- Review your exact deposit amount and resulting LTV ratio.
Frequently asked questions
Is 20% down required?
No — many programs allow far less (FHA from 3.5%, some conventional from 3%) — but below 20% usually means paying PMI.
What does PMI cost?
Commonly around 0.3–1.5% of the loan per year, depending on credit and LTV, added to your monthly payment.
Should I put more down?
More down means smaller payments and less interest, but weigh it against keeping an emergency fund.