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Down Payment Calculator (2026)
Calculate exactly how much down payment you need, compare different percentages, and see how each option affects your monthly payment and total interest.
⬇️ Down Payment Calculator
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Down Payment Options in 2026
The right down payment depends on your loan type, financial situation, and goals. Here are the most common options:
3%–3.5% — Minimum for conventional (Fannie/Freddie first-time buyer) and FHA loans. Lowest cash required but highest monthly payment and PMI costs. 10% — Reduces PMI cost significantly, lowers monthly payment. 20% — Eliminates PMI entirely, best rate, lowest monthly payment. 25%+ — Often required for investment properties to qualify for conventional financing.
Frequently Asked Questions
What is the minimum down payment to buy a house?
Conventional: 3% (first-time buyers) or 5%. FHA: 3.5% (credit 580+). VA: 0% (eligible veterans). USDA: 0% (rural areas). Investment properties: typically 20–25% minimum.
Should I put 20% down to avoid PMI?
20% down eliminates PMI (saving $100–300/month on a $300K loan) and gives you the lowest monthly payment. But it ties up more cash. Consider whether that cash could earn more invested elsewhere versus the PMI savings.
What is PMI and how much does it cost?
PMI is required on conventional loans with less than 20% down. Cost is typically 0.5–1.5% of the loan amount per year. On a $280,000 loan, PMI costs roughly $1,400–$4,200/year ($117–$350/month). It automatically cancels at 22% equity.
How can I save for a down payment faster?
High-yield savings accounts currently offer 4–5% APY. First-time buyer programs in many states offer matching grants. Down payment assistance programs vary by state and income. Some employers offer homebuyer assistance as a benefit.