Calculator
Down Payment Comparison
Compare up to three down payment amounts side by side.
Side-by-side comparison
Enter a rate and at least one down payment scenario.
Estimates only, based on the numbers you enter. Not a Loan Estimate, rate quote, offer or commitment to lend. Actual terms depend on credit, property, program and market conditions.
How to use this
Enter up to three down payment percentages you're considering. If a scenario would require mortgage insurance, enter the monthly estimate your lender gave you; it varies by program, credit score and loan-to-value.
The real trade-off
A larger down payment lowers your loan and payment and may reduce or remove mortgage insurance. A smaller one keeps more cash in your pocket for reserves, repairs and moving. I'll help you weigh both. See the conventional and FHA guides.
Common questions
Is a bigger down payment always better?
Not always. More down lowers your loan, payment and possibly mortgage insurance. Less down keeps cash available for reserves, repairs and moving costs. The right answer depends on your savings, the program and how long you'll keep the loan.
Where do I find the mortgage insurance amount?
Ask your lender for a quote for each scenario. Mortgage insurance pricing depends on the program, credit score and loan-to-value, so it isn't estimated automatically here.
Want real numbers for your scenario?
I'll run your situation against actual program guidelines and walk you through every line.
Applications open in a new tab on Neighborhood Mortgage's secure portal.