Work out the down payment amount and loan needed.
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How do you calculate a down payment and loan amount?
Down payment = price × percent ÷ 100, and loan amount = price − down payment. For example, 20% on a 300,000 home is a 60,000 deposit and a 240,000 loan. A larger down payment reduces the loan and often the interest rate and insurance.
Understanding your result
A larger down payment reduces the loan and often the interest rate and insurance.
Formula and method
Down payment = price × percent ÷ 100. Loan amount = price − down payment.
Assumptions and limitations
This covers the deposit and loan only. Budget separately for closing costs, taxes and — below about 20% down — mortgage insurance.
Worked example
20% on a 300,000 home is a 60,000 deposit and a 240,000 loan.
How to use this tool
- Enter the home price.
- Enter the down payment percentage.
Common mistakes to avoid
- Forgetting closing costs on top of the deposit.
About the Down Payment Calculator
See how much deposit a given down-payment percentage requires and the resulting loan amount.
Who should use this tool
Home buyers planning how much deposit to save and how large a loan they will need.
Benefits
- Turn a down-payment percentage into a clear cash amount.
- See the loan amount you will need to finance.
- Compare different deposit sizes instantly.
Practical use cases
- Setting a savings target for a house deposit.
- Checking the loan size for a given deposit.
- Comparing 10% versus 20% down.
Frequently asked questions
How much down payment is typical?
It varies by market and loan type, commonly between 5% and 20%.
How does a larger down payment affect the loan?
A bigger deposit reduces the amount you need to borrow, which lowers the loan balance shown here. A smaller loan can mean lower monthly payments and less interest over time, and lenders may also offer better terms, though requirements vary by lender and location.
Can I work backwards from a deposit I have saved?
This tool takes a price and a percentage to give the deposit and loan. To find the percentage your savings represent, divide your saved deposit by the property price and multiply by one hundred, then enter that figure to see the resulting loan amount.