How much down payment do you actually need?
Enter a purchase price and the down payment you have available. We'll show you the minimum required, whether mortgage default insurance may apply, and what your estimated mortgage could look like.
Check My Down PaymentSee the minimum, the percentage, and the mortgage amount all in one place.
What You'll Find Out
Minimum down payment
See the minimum required for the purchase price you enter.
Insurance impact
See whether mortgage default insurance may be required.
Estimated mortgage
See how your down payment affects the mortgage amount.
First home
See minimum down payment rules for an owner-occupied purchase.
Next home
Compare your available down payment with the minimum required.
Investment property
See how the minimum changes for a non-owner-occupied rental.
Build Your Estimate
Start with the home price and what you have available.
Change your purchase type or numbers at any time and the results will update automatically.
Your information
Tell us about your purchase
Choose the option that best describes what you are planning. We'll tailor the guidance to your situation.
Your results
Here's what we found.
You’re above the minimum required down payment.
Your down payment represents approximately 7.7% of the purchase price you’ve entered.
Minimum down payment
$40,000
Your down payment
$50,000
7.7% of the purchase price
Mortgage default insurance
Required
Estimated premium: $24,000
Estimated total mortgage
$624,000
Includes the estimated insurance premium
How the mortgage amount comes together
What this means
You may be closer than you think.
Because your down payment is less than 20%, mortgage default insurance would be required. The estimated premium is $24,000, based on a standard 25-year amortization, and can generally be added to the mortgage.
One thing to remember
Your down payment is only one part of the cash you may need. You'll also want to plan for closing costs such as legal fees, adjustments and any applicable property transfer tax.
Turn your target into a savings plan.
Use the Down Payment Savings Roadmap to estimate your timeline and explore practical ways to reach your goal.
Continue Planning
Continue Your Home Buying Journey
These resources build on what you’ve just learned and can help you take the next step with more confidence.
Closing Costs Planner
Estimate legal fees, property transfer tax and other costs beyond your down payment.
Open PlannerMortgage Payment Planner
Estimate your monthly, bi-weekly or accelerated bi-weekly mortgage payment.
Open PlannerFirst-Time Home Buyer Guide
Learn the buying process from preparing your finances to receiving the keys.
Read GuideA Note from Kiersten
Want to double-check your numbers?
This planner is designed to give you a solid starting point, but every home purchase is unique. Down payment requirements can vary depending on the purchase price, the type of property and your individual circumstances. I'd be happy to review your plans, answer your questions and help you understand your options.