Down Payment
A down payment is the share of a home's price you pay upfront in cash, with the mortgage covering the rest. Putting down 20% lets you avoid private mortgage insurance and shrinks the loan, but it isn't required — conventional loans go as low as 3%, FHA 3.5%, and VA or USDA loans can reach 0% for those who qualify.
A bigger down payment lowers your monthly payment and total interest, but draining every dollar to reach 20% can leave you without reserves. Lenders like to see cash left over after closing, and an emergency fund usually matters more than hitting a round number.
Put it to work
Down Payment Calculator
See the cash you need upfront to buy a home — down payment plus closing costs — and how many months of saving it takes to get there.
Home Affordability Calculator
How much house can you afford? Get a realistic max price from your income, debts, and down payment using the 28/36 rules lenders actually apply.
Mortgage Calculator
Estimate your monthly mortgage payment with taxes, insurance, PMI and HOA — plus total interest and a full amortization breakdown. Free, fast, no signup.