Down Payment Calculator
Updated on 20 Oct 2026 · Checked by Aotob
For a $400,000 home with 20% down you need $92,000 including buying costs.
Saving $1,000 a month on top of $25,000, you get there in 4 yrs 9 mos.
Ready in
4 yrs 9 mos
With 20% or more down you avoid mortgage insurance with most lenders.
Show the working
Down payment = 400,000 × 20% = 80,000
Costs = 400,000 × 3% = 12,000
Total = 92,000
What each deposit size needs
| Down payment | Amount | With costs | Loan |
|---|---|---|---|
| 5% | 20,000 | 32,000 | 380,000 |
| 10% | 40,000 | 52,000 | 360,000 |
| 15% | 60,000 | 72,000 | 340,000 |
| 20% | 80,000 | 92,000 | 320,000 |
| 25% | 100,000 | 112,000 | 300,000 |
Questions people ask
Do I need 20% down?
No, but below 20% most US lenders add private mortgage insurance, and lenders elsewhere charge higher rates or insurance (CMHC in Canada, LMI in Australia). Some first-time buyer loans accept 3% to 5%.
What buying costs should I add?
Transfer or stamp duty, legal and title fees, valuation and lender fees. In the US closing costs are often 2% to 5% of the price. Use the stamp duty or land transfer tax calculator for your country.
Where should I keep my deposit?
An easy-access savings account, or a first-home account where your country has one, such as a Lifetime ISA in the UK, the FHSA in Canada or KiwiSaver in New Zealand.
Updated 20 Oct 2026Source: CFPB guide to buying a homeChecked by AotobAn estimate, not financial adviceReport an issue