Using the Down Payment Calculator
Use a price and down-payment percentage appropriate to the purchase scenario. Keep closing costs separate unless they are actually being financed, because paying them does not normally reduce the purchase-price balance.
Worked example
Use the example inputs below to reproduce this result. These are the form's starting values, not recommended targets. Changing your inputs updates your result above; this worked example stays fixed for comparison. Results are rounded for display.
Example inputs
- Purchase price
- 300000
- Down payment (%)
- 20
- Cash closing costs
- 5000
Example result
- Down payment
- 60,000
- Amount financed
- 240,000
- Cash needed
- 65,000
Method and assumptions
Down payment = price × percentage. Closing costs are paid in cash.
Build a complete housing comparison
A housing calculation usually answers one part of a larger decision. Keep the purchase price, financing, recurring ownership expenses and eventual sale assumptions in separate lines of your budget. This makes it easier to spot costs omitted by a particular model. When comparing alternatives, use the same time horizon and currency for both.
Common question
Is the amount financed the same as my final mortgage balance?
Only if no other charges are added to the loan. Financed fees, insurance premiums or other adjustments can change the final balance.
Guide updated .