Mortgage Down Payment Calculator

You will be able to compare the benefits of different down payment options in no time with our mortgage down payment calculator. For most home buyers it makes sense to make a higher down payment because it will result in lower monthly payments and less interest paid on the loan.

• Enter ballpark values by clicking on and dragging the diamond-shaped sliders left or right. Enter exact numbers by clicking on the number in the box on the right and type your number (no commas).
• The results of your calculations show in the box at the bottom of the calculator.
• Click on tabs for details and for more options.

Hi Down Payment
Enter the largest down payment you are able to make.

Lo Down Payment
You should enter the minimum amount with which you are comfortable for a down payment.

Purchase Price
This is the total amount of the home you plan to buy.

Loan Rate
Here you can enter the interest rate for your loan.

Loan Term
Simply enter the number of years you have to repay your loan.

Pay Off Period
This amount should be less than or equal to the loan term.

Savings Rate
Determine which account you will keep the unused funds for the down payment in and enter the interest rate here. This is the interest rate you currently receive on your savings.

Tax Rate
Enter your income tax rate here.

Our Savings Graph Tab contains a line chart that will show you which down payment option saves you the most money. The Lo Down Payment Option will save you more money if the numbers on the left side of the graph (y-axis) turn negative.

The Cost Comparison Tab presents an interactive table comparing the Hi and Lo Down Payment options. Rows show values for monthly payment, tax benefit, equity and total cost.

Our results box changes based on the information that you enter and makes it easy to see which option will save you the most money at the end of your specified pay off period.

Click Here to open the Mortgage Down Payment Calculator