You’ll enter your purchase price, term in years and how many years you expect to stay in the home.

You can enter information about a smaller down payment (Less Down) or a larger one (More Down) and your taxes and insurance. Expand each section to see the available fields and enter what you already know.

Based on your information, the calculator will tell you how much a smaller down payment will cost you over the number of years you expect to stay in the home.

This amount is what you’ll save over time by making the larger down payment.

You can visit our Prepare Your Finances & Get Pre-Approved page to learn about down payments and how you can achieve your down payment goals.

If you have a Virtual Wallet account, you can also use digital tools like Low Cash Mode, scheduling upcoming paydays and payments, creating saving goals and moving money easily between accounts.

Your down payment is toward part of the purchase price. What you pay up front decreases the amount you’ll owe, which is the amount you’ll pay interest on. The larger your down payment, the less interest you pay over the life of the loan.

Experts recommend paying 5-20% down; if you pay at least 20% down you eliminate the need for Private Mortgage Insurance (PMI).