Down Payment & Closing Cost Calculator
Work out the cash you need to buy a home (your down payment at any percentage, estimated closing costs, and the total due at closing) plus whether PMI is likely. Runs in your browser.
Cash needed to close
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Show the math
The cash you bring is the down payment plus closing costs:
cash to close = price × down% + price × closing%
The CFPB puts typical closing costs, not counting the down payment, at 2–5% of the purchase price, covering lender, title, and appraisal fees. A down payment under 20% leaves your loan-to-value above 80%, which usually means mortgage insurance. On a conventional loan you can ask to cancel PMI once the balance is scheduled to reach 80% of the home’s original value, and it ends automatically at 78%. FHA loans charge MIP instead: with 10% or more down it lasts 11 years, and with less than 10% down it lasts for the life of the loan.
What this does
This calculator works out the cash you need to buy a home: your down payment at any percentage, estimated closing costs, and the total due at closing. It also flags whether PMI is likely from your loan-to-value.
How to use it
- Enter the home price and your down payment percentage.
- Enter an estimated closing-cost percentage.
- Read your down payment, closing costs, and cash to close.
- Check the mortgage-insurance flag based on your loan-to-value.
How it works
The down payment is a percentage of the price; the loan is the rest. Closing costs are estimated as a percentage of the purchase price (the CFPB puts them at typically 2–5% of the price, not counting the down payment), and the cash to close is the down payment plus those costs. Mortgage insurance is flagged when the down payment is under 20%.
Understanding your result
The cash to close is separate from the loan itself, so budget for both. A larger down payment lowers the loan, may remove mortgage insurance, and reduces total interest.
Example
On a $400,000 home with 10% down, you pay $40,000 down plus roughly $12,000 in closing costs (3% of the price), about $52,000 cash to close, and mortgage insurance is likely.
Sources & methodology
- Consumer Financial Protection Bureau, Owning a Home, Loan options and the homebuying process
- Consumer Financial Protection Bureau, Closing Costs, What closing costs include
Last updated .
Frequently asked questions
How much cash do I need to close?
Your down payment plus closing costs. The tool sums both so you can see the total cash required, separate from the loan amount itself.
What are typical closing costs?
The CFPB says closing costs, not including your down payment, typically range from 2–5% of the home purchase price, covering lender fees, title, appraisal, and prepaids. Enter your own percentage to match a Loan Estimate.
When will I have to pay mortgage insurance?
It is usually required when your down payment is under 20% (loan-to-value above 80%), and the tool flags this from your numbers. On a conventional loan, you can ask your servicer to cancel private mortgage insurance (PMI) once your balance is scheduled to reach 80% of the home’s original value, and it must end automatically at 78%. FHA loans charge a mortgage insurance premium (MIP) instead: with 10% or more down it lasts 11 years, and with less than 10% down it lasts for the life of the loan.
Do you save my inputs?
No. All calculations happen locally in your browser.
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