Percent Down Calculator
You know the dollar amount of your down payment, but the number lenders actually talk about is the percentage. Enter the purchase price and your down payment to get that percentage, the resulting loan amount, and your loan-to-value ratio, plus a plain-English PMI verdict with an estimated monthly cost by LTV band. A comparison table lines up 3%, 5%, 10%, 15% and 20% down on the same price so you can see the trade-off between cash now and PMI later.
Planning estimate only. PMI figures use typical LTV-band rates (about 0.3% to 1% of the loan per year); your lender’s actual PMI depends on credit score, loan type and insurer.
Quick Answer
A $67,500 down payment on a $450,000 home is 15.00% down: the loan is $382,500 and the LTV is 85.00%. Because that is under 20% down, PMI applies at roughly $159.38/month (0.50% annual band rate at 85% LTV). Type your own price and down payment into the calculator above for the same breakdown.
Key takeaways
- The question runs in reverse: you know the dollars, the calculator finds the percent. Most down-payment tools only run forward, from a chosen percent to dollars.
- LTV is the complement: loan divided by price. 15% down always means 85% LTV, and that 80% LTV line is where PMI starts and stops.
- PMI here is priced, not just flagged. The estimate lands in dollars per month by LTV band, because “PMI applies” tells you nothing about what it costs.
- The scenario table makes the real trade-off visible: 20% down costs $22,500 more cash than 15% on a $450,000 home, and it deletes the $159/month PMI bill.
- Quick Answer
- How to use the percent down calculator
- The formulas behind the numbers
- Worked example: $67,500 on a $450,000 home, checked against the tool
- What loan-to-value tells your lender
- Down payment minimums by loan type
- Chasing 20%? Measure the shortfall in percent terms
- What competing calculators miss
- Frequently asked questions
- Add This Calculator to Your Website
How to use the percent down calculator
Enter two numbers and click Calculate; that is the whole job. The results stay hidden until you calculate, so the page loads clean and you control when the numbers appear.
- Enter the purchase price. The full price of the home, before anything is subtracted.
- Enter your down payment in dollars. Cash only, not closing costs or prepaid items.
- Click Calculate. Read the down-payment percentage, loan amount, LTV, the PMI verdict with its monthly estimate, and the five-scenario comparison table.
With the loan amount in hand, a mortgage payment calculator turns it into the monthly principal-and-interest figure, which is the number your budget actually feels.
The formulas behind the numbers
Four short formulas produce everything on the results panel, and the calculator shows the arithmetic for your exact inputs.
- Down-payment percent = down payment ÷ purchase price × 100
- Loan amount = purchase price − down payment
- LTV = loan amount ÷ purchase price × 100
- Estimated monthly PMI = loan amount × annual band rate ÷ 12 (only when LTV is above 80%)
The annual band rates are planning estimates, not quotes: 0.30% for LTV above 80% to 85%, 0.50% for 85–90%, 0.75% for 90–95%, and 1.00% at 95% and above. Real PMI is set by your lender, your credit score and the insurer. These bands translate to roughly $25 to $83 per month for every $100,000 borrowed, spanning the $30 to $70 range Freddie Mac quotes before credit adjustments.
Worked example: $67,500 on a $450,000 home, checked against the tool
The calculator comes pre-filled with this example. Click Calculate and every figure below reproduces exactly.
How two numbers become five answers
67,500 ÷ 450,000 × 100 = 15.00%
450,000 − 67,500 = $382,500
382,500 ÷ 450,000 × 100 = 85.00%
85% LTV → 0.50% band → $159.38/month
The comparison table then lines up the same $450,000 price at five standard down payments:
| Down | Cash needed | Loan | Est. PMI/mo |
|---|---|---|---|
| 3% | $13,500 | $436,500 | $363.75 |
| 5% | $22,500 | $427,500 | $356.25 |
| 10% | $45,000 | $405,000 | $253.13 |
| 15% (your example) | $67,500 | $382,500 | $159.38 |
| 20% | $90,000 | $360,000 | None |
The jump from 15% to 20% costs $22,500 more in cash and deletes a $159/month insurance bill. That is the exact trade-off the table exists to show.
What loan-to-value tells your lender
LTV is the lender’s risk dial: the loan divided by the home’s value, as a percent. At 80% LTV you own 20% of the home on day one, so the lender’s cushion covers normal price wobbles and no PMI is required. Above 80%, the lender adds private mortgage insurance, which protects them, not you.
Conventional PMI usually falls off at 80% LTV on request and automatically at 78% of the original value, per CFPB guidance. FHA mortgage insurance works differently: the annual premium generally lasts for the life of the loan when the down payment is under 10%.
Down payment minimums by loan type
Twenty percent is a milestone, not a minimum. First-time buyers most often put down far less, and each loan program sets its own floor. To turn any of these minimums into dollars on your price, or work back from a dollar figure to the percent, the percent adjustment calculator runs the percent math in all three directions.
| Loan type | Minimum down | Mortgage insurance |
|---|---|---|
| Conventional (standard) | 3–5% | PMI below 20% down; removable |
| Conventional (HomeReady / Home Possible) | 3% | PMI below 20% down; removable |
| FHA | 3.5% | MIP; usually lasts the loan’s life |
| VA (eligible borrowers) | 0% | No PMI; one-time funding fee |
| USDA (eligible areas) | 0% | Annual guarantee fee instead of PMI |
| Jumbo | 10–20%+ | Varies by lender |
Chasing 20%? Measure the shortfall in percent terms
If your savings fall short of the 20% mark, the useful question is how far short, in percent. Take the $450,000 example: 20% down is $90,000, and with $67,500 saved you are exactly 25% short of the target. Run that comparison on our percent less calculator (enter the target as the original, your savings as the new value) and you get the gap as a clean percentage, which is a better savings goal than a raw dollar figure.
Two cautions before you stretch for 20%. First, down payment and closing costs are separate: closing costs typically run 2–5% of the price on top of the down payment, so protect that cash rather than pouring every dollar into the down payment. Second, emptying your emergency fund to hit 20% trades a monthly insurance bill for real financial fragility; the CFPB’s homebuying guidance makes the same point about keeping reserves.
What competing calculators miss
Almost every rival down-payment tool runs forward: pick a percent, see the dollars. Omni’s down payment calculator and NumericCore’s version both start from a chosen percentage, and NumericCore only flags PMI as yes-or-no rather than pricing it. CalcAccurate does explain the reverse formula in its prose, but its tool still runs forward. Full mortgage calculators bury the percent inside a payment breakdown.
- The reverse direction is the whole point here. You bring the dollars you actually have; the tool finds the percent, the loan and the LTV.
- PMI is priced in dollars per month by LTV band, not just flagged, so you can weigh it against the extra cash of a bigger down payment.
- The 3–20% scenario table puts the cash-now versus PMI-later trade-off side by side on your exact price, with your row highlighted.
Frequently asked questions
Divide the down payment by the purchase price and multiply by 100. On a $450,000 home with $67,500 down, that is 67,500 divided by 450,000 times 100, which equals 15%.
LTV is the loan amount divided by the purchase price, times 100. It measures the lender’s risk: lower LTV means more borrower equity from day one. A 15% down payment always means an 85% LTV.
At 20% down, LTV is 80%, the threshold where conventional lenders drop the PMI requirement. It also usually earns better rates. But 20% is a milestone, not a minimum: most first-time buyers put down far less.
Typically 0.3% to 1% of the loan amount per year, set in bands by LTV. In the example above, $382,500 at 85% LTV falls in the 0.50% band, which works out to about $159 per month. Your lender’s actual quote depends on your credit score and loan type.
On a conventional loan you can usually request cancellation at 80% LTV, and it drops off automatically at 78% of the original value. FHA mortgage insurance generally lasts for the life of the loan when the down payment is under 10%.
Yes. Conventional loans start at 3 to 5% down for qualified buyers, FHA needs 3.5%, and VA and USDA loans allow 0% down for eligible borrowers. The trade-off is mortgage insurance and a larger loan.
Not always. A bigger down payment shrinks the loan and can delete PMI, but it also drains cash you may need for closing costs, moving and emergencies. Weigh the monthly savings against the value of keeping a reserve.
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References
- Consumer Financial Protection Bureau. What is private mortgage insurance? Ask CFPB. Accessed October 24, 2026.
- Consumer Financial Protection Bureau. When can I remove private mortgage insurance (PMI) from my loan? Ask CFPB. Accessed October 24, 2026.
- Consumer Financial Protection Bureau. Figure out how much you want to spend. Owning a Home. Accessed October 24, 2026.
- Freddie Mac. What Is Private Mortgage Insurance? My Home. Accessed October 24, 2026.
- Freddie Mac. Breaking down PMI. My Home. Accessed October 24, 2026.
- Freddie Mac. The Math Behind Putting Down Less Than 20%. My Home. Accessed October 24, 2026.
- Freddie Mac. Home Possible mortgages. Single-Family. Accessed October 24, 2026.
- Fannie Mae. HomeReady mortgage. Single-Family. Accessed October 24, 2026.
- U.S. Department of Housing and Urban Development. Let FHA help you buy a home. Accessed October 24, 2026.
- U.S. Department of Veterans Affairs. VA home loan types. Accessed October 24, 2026.
- National Association of Realtors. Highlights from the Profile of Home Buyers and Sellers. Research and Statistics. Accessed October 24, 2026.