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Down payment calculator

Down payment and closing costs you need, how long your savings take to reach them (or the monthly saving needed), and the PMI cost below 20% down.

হালনাগাদ যাচাই করা উদাহরণ: ৭

$
%
Common minimums: 3% conventional (Fannie Mae 97% LTV options), 3.5% FHA, 0% VA. 20% avoids PMI.
%
Freddie Mac: plan for 2% to 5% of the purchase price. Enter 0 to leave them out.
$
$
%
Compounded monthly; savings are added at the end of each month.
%
years
%
Freddie Mac: about $30 to $70 a month per $100,000 borrowed (0.36% to 0.84% a year). Charged below 20% down.
আরও বিকল্প
%
চেষ্টা করুন
Time to reach the target
months
Time to reach the target: 20 months
পূর্ণসংখ্যা; নিকটতম; সমান দূরত্বে শূন্য থেকে দূরে
Time to reach the target
1 year 8 months
Cash needed at purchase
$52,000.00
অগ্রিম অর্থপ্রদান
$40,000.00
Closing costs
$12,000.00
Loan amount
$360,000.00
Loan-to-value
90.00%
Principal and interest
$2,275.44
PMI per month
$150.00
Monthly payment with PMI
$2,425.44
Months of PMI
95
Total PMI
$14,250.00
More needed for 20% down
$40,000.00
Time to save 20% down
43months
FHA loans charge mortgage insurance premiums instead of PMI and VA loans charge a funding fee; see the FHA and VA calculators for those.

You reach $52,000.00 ($40,000.00 down plus $12,000.00 of closing costs) in 1 year 8 months. The $360,000.00 loan then costs $2,425.44 a month with $150.00 of PMI for 95 months; saving for 20% down instead takes 3 years 7 months.

Savings against the target

$0$20K$40K$60K$80K010203040MonthTarget reached
SavingsYour target20% down + closing costs

Monthly payment by down payment

$0$1,000$2,000$3,0003%5%10%15%20%25%
Principal and interestPMI
Down payment options সারি: ৬
Downঅগ্রিম অর্থপ্রদানCash neededMonthly P&I + PMITotal PMIMonths to save
3%$12,000.00$24,000.00$2,614.09$21,501.673
5%$20,000.00$32,000.00$2,560.19$19,633.338
10%$40,000.00$52,000.00$2,425.44$14,250.0020
15%$60,000.00$72,000.00$2,290.70$7,933.3332
20%$80,000.00$92,000.00$2,022.62$0.0043
25%$100,000.00$112,000.00$1,896.20$0.0054
যেভাবে হিসাব করা হয় S

  1. Savings target

    10%×400,000.00+3%×400,000.00=40,000.00+12,000.00=52,000.0010\% \times 400{,}000.00 + 3\% \times 400{,}000.00 = 40{,}000.00 + 12{,}000.00 = 52{,}000.00

    Down payment plus closing costs.

  2. Months to reach the target

    20,000.00(1+i)20+1,500.00 (1+i)20−1i=52,345.68≥52,000.0020{,}000.00(1+i)^{20} + 1{,}500.00\,\frac{(1+i)^{20}-1}{i} = 52{,}345.68 \ge 52{,}000.00

    Month 20 is the first in which the balance covers the target (i = 0.3333% a month).

  3. Mortgage payment

    L=400,000.00−40,000.00=360,000.00,L r(1+r)360(1+r)360−1=2,275.44L = 400{,}000.00 - 40{,}000.00 = 360{,}000.00,\quad \frac{L\,r(1+r)^{360}}{(1+r)^{360}-1} = 2{,}275.44

  4. PMI

    0.5%×360,000.0012=150.00 for 95 months\frac{0.5\% \times 360{,}000.00}{12} = 150.00\ \text{for 95 months}

    Until the scheduled balance reaches 80% of the price ($320,000.00), when you can ask the servicer to cancel it; it ends automatically at 78% and at the loan's midpoint at the latest (CFPB).

Down payment calculator সম্পর্কে

The savings target is the down payment plus closing costs, which Freddie Mac puts at 2% to 5% of the price. The time to reach it comes from growing what you have saved at your savings return, adding each month's saving, and finding the first month the balance covers the target; the other mode works out the monthly saving needed by a chosen date.

With the defaults, 10% down on a 400,000 home plus 3% closing costs is 52,000. Starting from 20,000 and saving 1,500 a month at 4%, you get there in 20 months. The 360,000 loan then carries PMI of 150 a month for 95 months, while saving for 20% down (92,000 with closing costs) takes 43 months.

PMI is estimated at a flat yearly rate of the loan until the balance is scheduled to reach 80% of the price, when a US servicer must cancel it on request (CFPB). Taxes on savings interest are not included.

সমাধান করা উদাহরণ

Freddie Mac example: 5% down on a 200,000 home

আমি বের করতে চাই
Time to save
Home price
200,000
Enter down payment as
Percent of price
অগ্রিম অর্থপ্রদান
5%
Closing costs (of price)
0%
Saved so far
10,000
Monthly saving
500
Return on savings (per year)
0%
Mortgage rate (per year)
4.5%
Mortgage term
30 years
PMI (per year, of loan)
0.51%
Time to reach the target
0 months
Loan amount
190,000.00
Principal and interest
962.70
PMI per month
80.75
Monthly payment with PMI
1,043.45

যাচাইয়ের উৎস: Freddie Mac, Breaking down PMI: 5% down on 200,000, 30-year fixed at 4.5% → P&I 962.70, PMI 80.75 at 0.51%, total 1,043.45

Freddie Mac example: 20% down, no PMI

আমি বের করতে চাই
Time to save
Home price
200,000
Enter down payment as
Amount
অগ্রিম অর্থপ্রদান
40,000
Closing costs (of price)
0%
Saved so far
40,000
Monthly saving
1500
Return on savings (per year)
0%
Mortgage rate (per year)
4.5%
Mortgage term
30 years
PMI (per year, of loan)
0.51%
Loan amount
160,000.00
Principal and interest
810.70
PMI per month
0.00
Monthly payment with PMI
810.70
More needed for 20% down
প্রযোজ্য নয়

যাচাইয়ের উৎস: Freddie Mac, Breaking down PMI: 20% down on 200,000 at 4.5% → P&I 810.70 and no PMI

Defaults: 10% down plus 3% closing costs

আমি বের করতে চাই
Time to save
Home price
400,000
Enter down payment as
Percent of price
অগ্রিম অর্থপ্রদান
10%
Closing costs (of price)
3%
Saved so far
20,000
Monthly saving
1500
Return on savings (per year)
4%
Mortgage rate (per year)
6.5%
Mortgage term
30 years
PMI (per year, of loan)
0.5%
Time to reach the target
20 months
Time to reach the target
1 year 8 months
Cash needed at purchase
52,000.00
PMI per month
150.00
Months of PMI
95
Total PMI
14,250.00
More needed for 20% down
40,000.00
Time to save 20% down
43 months

যাচাইয়ের উৎস: Python decimal month-by-month savings at 4%/12 (first month with balance ≥ 52,000 is 20; ≥ 92,000 is 43); PMI months from the amortization at 6.5% until the balance ≤ 320,000

Zero return: whole months of saving

আমি বের করতে চাই
Time to save
Home price
300,000
Enter down payment as
Percent of price
অগ্রিম অর্থপ্রদান
10%
Closing costs (of price)
0%
Saved so far
6000
Monthly saving
1000
Return on savings (per year)
0%
Mortgage rate (per year)
6.5%
Mortgage term
30 years
PMI (per year, of loan)
0.5%
Time to reach the target
24 months
Cash needed at purchase
30,000.00

যাচাইয়ের উৎস: Hand calculation: (30,000 − 6,000) ÷ 1,000 = 24 months exactly

প্রশ্ন

How much should you put down on a house?

20% avoids private mortgage insurance on a conventional loan, which Freddie Mac requires above 80% loan-to-value. Lower minimums exist: 3% on Fannie Mae's 97% loan-to-value options, 3.5% on an FHA loan with a credit score of 580 or more, and nothing on a VA loan. On a 400,000 home that is 80,000, 12,000, 14,000 or 0, before closing costs.

How much does PMI cost?

Freddie Mac puts it at about 30 to 70 a month for every 100,000 borrowed, or 0.36% to 0.84% of the loan a year. Its example: 5% down on a 200,000 home at 4.5% gives a 190,000 loan, 962.70 of principal and interest and 80.75 of PMI at 0.51%, for 1,043.45 a month. You can ask to cancel PMI when the balance is scheduled to reach 80% of the original value (CFPB).

How long does it take to save for a down payment?

Divide the gap by what you save each month, then let interest shorten it. Reaching 52,000 from 20,000 at 1,500 a month takes 22 months with no interest, since 32,000 ÷ 1,500 = 21.3, and 20 months at 4% compounded monthly. If home prices rise while you save, the target moves too; enter a growth rate under More options.

Do I need to save for closing costs as well?

Yes. Closing costs are paid at closing on top of the down payment, and Freddie Mac says to plan for 2% to 5% of the purchase price. On a 400,000 home that is 8,000 to 20,000, so 10% down plus 3% closing costs needs 52,000 in cash, not 40,000.

Should I wait until I have 20% down?

Waiting avoids PMI but delays the purchase. With the defaults, buying at 10% down after 20 months means PMI of 150 a month for 95 months, 14,250 in all; waiting for 20% takes 43 months. If prices rise 4% a year while you save, 10% down plus closing costs grows from 52,000 to 56,059.68 and takes 23 months.

“Down payment calculator” কতটা নির্ভুল?

নির্ভুলতা আপনার ইনপুট ও পদ্ধতির অনুমানের ওপর নির্ভর করে। দশমিক গণনায় 50টি সার্থক অঙ্ক ব্যবহৃত হয়, কিন্তু আনুমানিক হিসাব, সংখ্যাগত পদ্ধতি ও উৎসের তথ্য কম নির্ভুল হতে পারে; প্রদর্শিত মান রাউন্ড করলে এই সীমাবদ্ধতাগুলি দূর হয় না। স্বতন্ত্র উৎসের সমাধানের সঙ্গে যাচাই করা উদাহরণ: ৭। যেমন, “Freddie Mac example: 5% down on a 200,000 home” উদাহরণটি Freddie Mac, Breaking down PMI: 5% down on 200,000, 30-year fixed at 4.5% → P&I 962.70, PMI 80.75 at 0.51%, total 1,043.45-এর সঙ্গে যাচাই করা হয়।

এই পদ্ধতির উৎস কী?

Freddie Mac — Breaking down PMI (cost per $100,000 and a 5% vs 20% down example); Freddie Mac — What are closing costs and how much will I pay?; Consumer Financial Protection Bureau — When can I remove private mortgage insurance (PMI) from my loan?; Fannie Mae — 97% loan-to-value options.

এই ক্যালকুলেটর সম্পর্কে

S(1+i)n+C (1+i)n−1i≥(d+c) PS(1+i)^{n} + C\,\frac{(1+i)^{n}-1}{i} \ge (d + c)\,P

উৎস

  1. Freddie Mac — Breaking down PMI (cost per $100,000 and a 5% vs 20% down example)
  2. Freddie Mac — What are closing costs and how much will I pay?
  3. Consumer Financial Protection Bureau — When can I remove private mortgage insurance (PMI) from my loan?
  4. Fannie Mae — 97% loan-to-value options

শুধু পরিকল্পনার জন্য। ঋণদাতা, কর কর্তৃপক্ষ ও বাজার নিজস্ব রাউন্ডিং, ফি ও নিয়ম প্রয়োগ করে; প্রতিশ্রুতিবদ্ধ হওয়ার আগে তাদের কাছে পরিমাণগুলি নিশ্চিত করুন।

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