Finance

Down Payment Calculator

Find the down payment and loan amount.

Calculated Output

Down payment ($) 70,000

Loan amount ($) 280,000

Formula: down = price × percent/100

Step-by-Step Breakdown

1. Values used:

2. Home price = 350,000 $

3. Down payment = 20 %

5. Down payment = (350,000 / 100) x 20 = 3,500 x 20 = 70,000$

6. Loan amount = 280,000$

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The math behind it

down payment = price × percent ÷ 100; loan = price − down payment.

$350k at 20% → $70k down, $280k loan.

Why 20%?

It typically avoids private mortgage insurance (PMI).