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HomePlanner
See exactly how much you need upfront and what your monthly payment will be — the foundation of home buying math.
Putting 20% down eliminates Private Mortgage Insurance (PMI), which typically costs 0.5-1% of the loan annually. But many programs allow 3-5% down (FHA even 3.5%) — the trade-off is higher monthly payments due to PMI and a larger loan.
Beyond PMI, a larger down payment often qualifies you for a lower interest rate — lenders see you as less risky. The difference between 5% and 20% down can mean 0.25-0.5% lower rate, which saves thousands over 30 years.
Estimate monthly payments with taxes, insurance, and amortization.
OpenProperty price, down payment, tenure — EMI, processing fee, and stamp duty & registration.
OpenCompare loan terms and see total interest paid.
OpenProject growth from deposits and compounding interest.
OpenWhat you entered
Down payment
$350,000.00 × 20%= $70,000.00Loan amount
$350,000.00 − $70,000.00= $280,000.00Monthly payment (P&I)
Amortized over 30 years at 6.5%= $1,769.79Result
Down payment: $70,000
A 20% down payment on a $350,000 home is $70,000, leaving a $280,000 loan with $1,770/month payments.