How to use
- Enter the purchase price.
- Enter the percent you will pay in cash. Twenty means 20 percent, not 0.20.
- Press Calculate. The hero is the down payment. The other line is the amount financed.
- Take the financed amount to the mortgage calculator if you want a payment.
How it's calculated
Down payment = price × percent ÷ 100. Amount financed = price − down payment.
A percent of 0 finances the whole price. A percent of 100 finances nothing. A percent outside 0 to 100 is rejected.
Worked example
A $400,000 price with 20 percent down is an $80,000 down payment and $320,000 financed. Ten percent down on the same price is $40,000 down and $360,000 financed.
Assumptions
The percent applies to the price you typed, not to the price plus closing costs. Earnest money you already paid is included in the down payment only if you leave it inside the percent.
FAQ
Does this include closing costs?
No. Add those on top of the down payment if you need cash to close.
Is 20 percent a rule?
No. It is a number you type. This page does not set a minimum.
How do I get the monthly payment?
Use the amount financed on the mortgage calculator with the rate and the term.
What is loan-to-value here?
If you finance the remainder and the value is the price, loan-to-value is 100 minus the percent down. The loan-to-value page divides a loan by a value you type, which matters when they differ.