Down Payment Calculator
Calculate your down payment, loan amount, and PMI/MIP costs for Conventional, FHA, VA, and USDA home loans.
Home & Loan Details
Down Payment %
Down Payment
$70,000
20% of $350,000
Loan Amount
$280,000
LTV: 80.0%
LTV Ratio
0%
80.0% LTV
100%
PMI & Loan Details
| Feature | Details |
|---|---|
| Minimum Down Payment | 3% Conventional |
| Mortgage Insurance | No PMI/MIP |
| 20% Down Payment Would Be | $70,000 |
Down Payment Calculator — How Much Do You Need?
For a Conventional loan, the minimum down payment is 3%, but you'll pay PMI (Private Mortgage Insurance) until you reach 20% equity. PMI typically costs 0.5–1.5% of the loan amount annually (~$83–$250/month on a $200K loan). For a FHA loan, you need 3.5% down with a 580+ credit score (or 10% with 500–579). FHA requires both an upfront MIP of 1.75% and annual MIP of 0.85%. VA loans (veterans/military) and USDA loans (rural areas) require no down payment. The 20% down threshold eliminates PMI on conventional loans and typically gets you better interest rates. Putting 20% down on a $350,000 home saves approximately $1,200–$3,600/year in PMI.