What's My Payment?

Down Payment Calculator

Compare how different down payment amounts impact your monthly conventional, FHA, or VA loan payment, including any PMI or funding fee.

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*All payments are estimated for demonstration purposes only and exclude property tax and homeowner's insurance.

Conventional Loan

Common down payments when using a conventional loan are 5%, 10%, and 20%. The minimum down payment is 3%. We estimate PMI where applicable using familiar PMI rates. Work with your lender to explore PMI options.

Down PaymentPMIPayment
3%●$17,400$408$4,057
5%●$29,000$303$3,877
10%●$58,000$200$3,586
20%●$116,000$0$3,010

PMI

Credit Score
720-739

FHA Loan

FHA loans require a minimum 3.5% down payment. Making a 5% or 10% down payment reduces the FHA MIP and overall payment.

Down PaymentFHA MIPPayment
3.5%●$20,300$255$3,949
5%●$29,000$228$3,865
10%●$58,000$216$3,661

VA Loan

VA loans typically do not require a down payment. Making a 5% or 10% down payment will decrease the VA funding fee, particularly if you have previously used your VA home loan benefits. The funding fee is generally waived if you recieve service related disability.

Down PaymentFunding FeePayment
0%●$0$12,470$3,843
5%●$29,000$8,265$3,627
10%●$58,000$6,525$3,428
Receive VA Disability
Had Previous VA Loan

If you have an active VA loan and have no plans to pay it off when buying your new home, you may need to make a down payment. Use our VA entitlement calculator to determine how much.