Work out your down payment, loan amount and monthly payment. Free, private, and runs entirely in your browser.
Down payment = price × percentage. The loan is the remaining balance, and the monthly payment uses the standard amortization formula.
Do I need 20% down? No, but under 20% you will usually pay PMI, which raises the monthly cost.
Does this include taxes and insurance? No, only principal and interest.
On a $350,000 home, a 20% down payment is $70,000, leaving a $280,000 loan. At 6.5% over 30 years the principal and interest payment is about $1,770 per month. At 10% down the loan would be $315,000 and the payment higher, with mortgage insurance likely added.
How much should I put down? 20% avoids PMI on conventional loans, but many buyers put down less depending on savings and goals.
Do down payment assistance programs exist? Many states and cities offer them; check local housing agencies.