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Down Payment Calculator — PMI, FHA, VA, USDA

Calculate down payment, PMI costs, and total cash needed. Compare conventional, FHA, VA, and USDA loan programs.

Concept Fundamentals
$40,000
Down Payment
$2933
Monthly Payment
$52,000
Total Cash
$108/mo
PMI

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20% down eliminates PMI FHA 3.5% min VA/USDA 0% down Credit score affects PMI rate

Key figures
$40,000
Down Payment
Key figure
$2933
Monthly Payment
Key figure
$52,000
Total Cash
Key figure
$108/mo
PMI
Key figure

Ready to run the numbers?

Why: Down payment affects loan size, PMI, and monthly payment. 20% eliminates PMI. FHA/VA/USDA offer lower down options.

How: Down = Price × %. LTV = Loan ÷ Price. PMI = f(LTV, credit). Total cash = Down + closing (2–5%) + prepaids.

20% down eliminates PMIFHA 3.5% min
Sources:Freddie MacHUD FHA

Run the calculator when you are ready.

Calculate Down Payment

Down Payment Calculator

PMI • FHA • VA • USDA • Total cash needed

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Home & Down Payment

Loan Details

Annual Costs

down_payment.sh
CALCULATED
$ calculate_downpayment --home=$400000 --down=10% --program=conventional
Down Payment
$40,000
Loan Amount
$360,000
Monthly Payment
$2,933
Monthly PMI
$108
LTV Ratio
90.0%
Total Cash Needed
$52,000
Total Interest
$459,160
PMI Drops At
Year 9.1
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Down Payment Analysis
$40,000 (10%)
🏠 $400K Home💳 $2,933/mo⚠️ PMI $108/mo
numbervibe.com/calculators/mortgage/down-payment-calculator

Monthly Payment by Down Payment %

Monthly Payment Breakdown

Home Equity Growth

Calculation Breakdown

DOWN PAYMENT
Home Price
$400,000
Down Payment (10%)
$40,000
$400,000 × 10%
Loan Amount
$360,000
$400,000 - $40,000
LOAN DETAILS
Loan-to-Value (LTV)
90.0%
Loan Program
Conventional
Monthly P&I
$2,275
6.5% for 30 years
MORTGAGE INSURANCE
Monthly PMI
$108
0.36% annual rate
PMI Drops Off At
Month 109 (9.1 years)
MONTHLY COSTS
TOTAL MONTHLY PAYMENT
$2,933
UPFRONT COSTS
TOTAL CASH NEEDED
$52,000
ext{Down} ext{payment} + ext{Upfront} ext{fees} + ~3% ext{closing} ext{costs}
LONG-TERM COSTS
Total Interest (Life of Loan)
$459,160
Total PMI/MIP Paid
$11,772

For educational and informational purposes only. Verify with a qualified professional.

💡 Money Facts

20%

No PMI

— Conventional

3.5%

FHA min

— FHA

0%

VA/USDA

— Qualifying

8%

Avg 1st-time

— NAR

1. Key Takeaways

  • • 20% down eliminates PMI on conventional
  • • FHA 3.5% min; MIP for life if down < 10%
  • • VA/USDA offer 0% down for qualifying buyers
  • • Median first-time down: 8%; repeat: 19%

2. Understanding Down Payments

Larger down = smaller loan, lower payment, no PMI. Conventional: PMI below 20%. FHA: 3.5% min, MIP. VA: 0% down, no PMI. USDA: 0% rural.

3. How It Works

Down = Price × %. LTV = Loan ÷ Price. PMI = f(LTV, credit). Total cash = Down + closing (2-5%) + prepaids.

4. Expert Tips

PMI break-even

Buy now vs wait for 20%

Total cash

~130% of down payment

Credit score

40 pts = $50-150/mo PMI savings

5. Loan Program Reference

ProgramMin DownPMI/MIP
Conventional3%Below 20%
FHA3.5%MIP always
VA0%None
USDA0%1% + 0.35%/yr

6. FAQ

How much down? 20% avoids PMI; 10-15% solid middle; 3-5% gets in sooner.
PMI removal? Conventional: 78% auto, 80% request. FHA <10%: life of loan.
Total cash? Down + 2-5% closing + prepaids + inspection.

7. Quick Stats

8%

avg 1st-time down

$412K

median home

$107

avg PMI (740+)

0%

VA/USDA down

8. Sources

Freddie MacHUD FHAVACFPB

9. Disclaimer

Estimates only. Get official loan estimates from lenders. Not financial advice.

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