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Mortgages / Down Payment Calculator

Down Payment Calculator

A down payment is the upfront cost when buying a house, typically 3%-20% of the home's total cost. Estimate your down payment with Zillow.

*Disclaimer: The down payment calculator is intended to be used for illustrative and educational purposes only. Please consult with qualified mortgage professional for personalized guidance.

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How do I calculate down payment?

Down Payment = Home Price x Down Payment Percentage

For example, for a $300,000 home with a 20% down payment, your down payment would be $60,000.

How much should I put down on a house?

The recommended down payment amount varies depending on your financial situation, loan type, and personal goals. Conventional loans typically require 3% to 10%, while FHA loans may allow for as little as 3.5%. 

Why is a 20% down payment often recommended?

A 20% down payment is often recommended, because it allows the borrower to avoid paying PMI — a type of insurance that protects the lender if you default on the loan. A higher down payment can also lower your monthly mortgage payment, reduce the amount of interest paid over time, and potentially improve your chances of loan approval. However, 20% is not a required amount.

What is the minimum down payment for a home?

The minimum amount required for a down payment on a home depends on the type of home you’re buying and the loan you're using to make the purchase. Government-backed loans may offer 0% down, while conventional loans typically require 3-5%. Down payments of 3% are more common among first-time homebuyers or credit-worthy, low-income borrowers who qualify for mortgage programs like HomeReady and HomePossible. All other borrowers typically must make at least 5% down payment on a conventional loan.*

The table below shows minimum down payment amounts for each major loan type when purchasing a primary residence, secondary home or investment property. Keep in mind that minimum down payment requirements can vary depending on location, lender, loan type, credit history and more.

Primary homeSecond homeInvestment property
Conventional loan3-5%*10%20%
Jumbo loan20%25%25%
FHA loan3.5%FHA loans can't be used on second homesFHA loans can't be used on investment properties
VA loan0%VA loans can't be used on second homesFHA loans can't be used on investment properties
USDA loan0%USDA loans can't be used on second homesUSDA loans can't be used on investment properties

Frequently asked questions about down payments

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