Down Payment Calculator
Calculate the down payment you need as a dollar amount or percentage, plus the monthly payment and total loan cost on a home.
Down payment
$80,000
20.0% of home price
Loan amount
$320,000
Total cost
$808,142
Loan payments plus down payment
Monthly payment
$2,022.62
A larger down payment lowers your monthly payment and total interest, and can also remove the need for mortgage insurance.
How it works
Loan amount = price × (1 − down%). Payment uses the amortising formula; PMI added when down payment < 20%.
Example: $300,000 home, 20% down → $60,000 down, $240,000 loan, no PMI.
Last updated: July 2026
How this calculator is verified
Checked by True Calculator automated test suite on
- Formula verified against a published worked example in the automated test suite
- Edge cases (zero, negative, boundary and unit-mismatch inputs) covered by unit tests
The full verification method is on our how we verify page. Found an error? Tell us and we will re-check it.
When to Use This Calculator
Use the down payment calculator when you are saving for a home and want to know what the upfront amount buys you. In India, a 20% down payment is the common expectation for home loans, and this tool works in both directions — it computes the down payment amount from a percentage of the property price, or the percentage a given lump sum covers. Enter the property price, the down payment you can manage and the loan rate and tenure to see the EMI, total interest and total loan cost that follow. First-time buyers saving in fixed deposits and mutual funds use it to set a savings target, and buyers with an unexpected windfall can check how a bigger down payment shrinks the loan and the interest. It is the starting point of any home-buying plan.
How to Use This Calculator
- Step 1: Enter the home price in the home price field — for an under-construction flat, use the agreement value.
- Step 2: Choose whether to enter the down payment as a rupee amount or as a percentage of the price.
- Step 3: Set the interest rate and loan term in years for the remaining amount.
- Step 4: Read the down payment, loan amount, monthly payment and total cost including interest over the full term.
Worked Example
You are buying a home for ₹80,00,000. With a 20% down payment, you pay ₹16,00,000 upfront and finance ₹64,00,000. At 8.5% for 20 years, the monthly payment is about ₹55,541, and the total cost — all EMIs plus the down payment — is about ₹1.49 crore. Raise the down payment to 30% and the loan drops to ₹56,00,000, lowering both the EMI and the interest paid over the term.
Tips and Common Mistakes
- •Tip 1: RBI's loan-to-value guidelines cap financing at 90% for loans up to ₹30 lakh, 80% between ₹30 and 75 lakh and 75% above ₹75 lakh — the minimum down payment follows directly.
- •Tip 2: Budget separately for stamp duty and registration, usually 5-8% of the property value depending on the state, since they are not covered by the loan.
- •Tip 3: A larger down payment also shrinks the base on which lenders compute processing fees.
- ✗Mistake 1: Entering a percentage when the field expects an amount — the two modes give very different down payments.
- ✗Mistake 2: Planning only the down payment and ignoring registration, stamp duty, GST on under-construction flats and brokerage.
Frequently Asked Questions
How much should I put down on a house?
A 20% down payment avoids private mortgage insurance (PMI) and lowers monthly costs, but many programs accept 3–5% down. Use this calculator to see how each amount affects your loan and payment.
What is the minimum down payment for a conventional loan?
Most conventional loans allow as little as 3–5% down. FHA loans go as low as 3.5% and VA and USDA loans can be zero down for eligible borrowers.
How does a larger down payment save me money?
A bigger down payment means a smaller loan, so you pay less interest over the life of the mortgage, and at 20% you also eliminate PMI, a cost that typically runs 0.5%–1.5% of the loan per year.
Is this down payment calculator free to use?
Yes, True Calculator's down payment calculator is completely free with no sign-up, no app install and no usage limits.
Compare these tools
- Future Value Calculator — Find what your money grows into with compound interest at any frequency
- Gratuity Calculator (India) — Calculate gratuity under the Payment of Gratuity Act, 1972 with the 15/26 formula and the ₹20 lakh tax-exempt cap for Indian employees
- GST Calculator (India) — Add or remove GST from any amount, with CGST + SGST split for intra-state and IGST for inter-state supplies
You might also need
Related calculators from other categories
Health & Fitness
Caffeine Calculator
Track your daily caffeine intake from coffee, tea, energy drinks and soda. Check if you're within safe limits.
Construction
Gravel Calculator
Calculate gravel needed for driveways and paths in tonnes, cubic yards and bags. Rectangle, circle or area input with waste allowance and cost.
Construction
Mulch Calculator
Calculate how much mulch you need for garden beds in bags, litres, cubic feet and cubic yards. Rectangle, circle or area input with waste allowance and cost.
Construction
Paint Calculator
Estimate paint litres and cost for your walls from the area in sq ft, number of coats and coverage. Plan your painting budget in India.