About this tool
Down Payment Calculator is a free, in-browser tool that turns a home price and a down payment into the numbers a lender cares about: the down payment in dollars, the loan amount you would borrow, your loan-to-value (LTV) ratio, and whether private mortgage insurance (PMI) is likely. Enter the down payment as a percent or a fixed dollar amount — the tool converts between them automatically. Everything is computed on your device; nothing is uploaded.
The down payment is price × percent (or the dollar figure you type), the loan amount is price − down payment, and LTV is loan ÷ price. Lenders generally require PMI when you put down less than 20% (LTV above 80%), so the tool flags that threshold directly. It is distinct from an affordability calculator: this one starts from a price you have in mind rather than your income.
An optional savings section answers the other half of the question — how long until you have the down payment. Enter what you can set aside each month and any amount already saved, and it returns the number of months and the projected date you will reach the goal. Use it to compare 5%, 10% and 20% scenarios and see exactly what each does to your loan and your timeline.