GlenCalc

Down payment calculator

Enter the home price and the share you plan to put down. You get the cash needed at closing and how long it takes to save at your current pace.

Typically 2 to 5% of the price.

Your answer

Cash needed at closing$45,500.00
Time to save it28 months
Down payment$35,000.00
Closing costs$10,500.00
Loan amount$315,000.00
  • Under 20% down, a conventional loan usually adds private mortgage insurance.

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How we worked it out

Updated as you change the numbers.

  1. Down payment = $350,000.00 × 10% = $35,000.00. Closing costs = $10,500.00.
  2. Months to save: add the monthly saving and the month’s interest until the balance reaches the target.

Method and assumptions

The cash needed is the down payment plus closing costs. Savings grow each month by your deposit and the interest on the balance, compounded monthly.

Questions

How much is 10% down on a $350,000 house?

$35,000, plus closing costs of roughly $7,000 to $17,500.

Sources

Method and figures checked on . Every worked answer on this page is covered by an automated test. Found a mistake? Tell us.

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