Down Payment Calculator
Purchasing a home is one of the most important decisions you'll ever make. This calculator will help you create a savings plan towards your home purchase down payment. Simply use your purchase price in the down payment calculator to calculate how much you need to save each month. Fine-tune your plan by adjusting any of the inputs including purchase price and the number of years you wish to save.
Related Article: 'How much house can I afford?"
When using the down payment calculator, you may want to consider these minimum down payment requirements for different home mortgage programs:
- VA Home Loan - Zero Down Mortgage
- USDA Rural Development ( USDA Loans ) - Zero Down Mortgage
- Conventional Loan - 3% Down Mortgage
- Mortgage Rates and Mortgage Insurance are better with a down payment of 5%
- FHA Loan - 3.5% Down Payment
- No Mortgage Insurance - Down Payment of 20%