Down payment, PMI & opportunity cost
This calculator helps you figure out how much money you need when you buy a home. It adds your down payment to a typical closing-cost allowance (about 3.5% of the home price) so you can see your total cash due at closing. It also estimates your monthly loan payment and private mortgage insurance (PMI) when you put less than 20% down, lets you compare several down-payment levels, and checks whether you would still have enough savings left afterward. Use it for planning only. It is not a loan offer or pre-approval.
By Jeff Beem
Updated
Used to estimate reserves after estimated cash to close.
Down payment + est. closing costs (3.5% of price)
No PMI at this LTV, compare to ~$118/mo PMI at 5% down with these inputs.
At current inputs, 5% down ($22,500) is highlighted as a capital-efficiency anchor, adjust inputs to match your goals.
Compare a few standard down-payment levels.
| Down % | Down pmt | Loan | P&I / mo | PMI / mo | Total / mo | Cash to close |
|---|---|---|---|---|---|---|
| 3.5% FHA | $15,750 | $434,250 | $2,745 | $119 | $2,864 | $31,500 |
| 5% | $22,500 | $427,500 | $2,702 | $118 | $2,820 | $38,250 |
| 10% | $45,000 | $405,000 | $2,560 | $111 | $2,671 | $60,750 |
| 20% No PMI | $90,000 | $360,000 | $2,275 | $0 | $2,275 | $105,750 |
Start in 01 Property with the home price. In 02 Down payment, type dollars or percent (they sync). 03 Mortgage terms sets rate and loan length. 04 Risk and opportunity picks credit band for PMI when LTV exceeds 80% and optional investment return for the ten-year line. 05 Liquidity enters total savings for the drain warning. Results show cash to close (down plus 3.5% closing estimate), monthly P&I and PMI, LTV bar, and a 3.5%/5%/10%/20% comparison table. Educational estimate only; not a loan offer.
The headline is cash due on closing day: down payment plus the 3.5% closing-cost estimate. Below that you see principal-and-interest payment and PMI when LTV exceeds 80%. The comparison table uses the same price and rate at 3.5%, 5%, 10%, and 20% down.
This page estimates cash to close, monthly PMI when you borrow more than 80% of the home value, and compares common down-payment levels. For education and planning only; not a loan offer or tax advice.
The PMI rate comes from the credit band in section 04 (for example about 0.33% annually on the loan amount for 740–759). Principal-and-interest uses standard fixed-rate amortization. Cash to close equals down payment plus 3.5% of home price in this model.
References used for the calculation method and definitions. Links open in a new tab when available.
Consumer Financial Protection Bureau (CFPB) guidance on sizing a down payment and closing costs.
CFPB explanation of when PMI applies on conventional loans and how it differs from FHA mortgage insurance.
CFPB overview of FHA low-down-payment loans and mortgage insurance premium (MIP).
General Projections: Results are mathematical estimates based on the rates and formulas currently loaded for this tool, including year-specific tax data where noted. They are intended for high-level planning only.
No Advice Provided: This site does not provide financial, tax, or legal advice. Using this tool does not create a client-advisor relationship with CalcRegistry.
Confirm Numbers: Financial laws change frequently. Please verify all results with a qualified professional (CPA, Financial Planner, or Lawyer) before making significant financial decisions.