Homebuyer calculator
Down Payment & Savings Gap Calculator
Find the least you could put down with each loan program, the full cash you would likely need to close, and how long it will take to save the difference.
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- No credit check, no sign-up
- Updated 2026-09-24
- Equal Housing Lender · NMLS #466690 (verify)
Educational estimate, not a loan offer.
Down Payment & Savings Gap Calculator
Adjust any input and your results update instantly.
Minimum down payment by program
At $350,000, with upfront fees financed.
| Option | Down payment | Closing, prepaids, escrow | Cash needed | Monthly payment |
|---|---|---|---|---|
| Conventional · 3.0% down | $10,500 | $10,634 | $21,134 | $2,814 |
| FHA · 3.5% down | $12,250 | $10,621 | $22,871 | $2,771 |
| VA · 0.0% down | $0 | $10,715 | $10,715 | $2,701 |
| USDA · 0.0% down | $0 | $10,715 | $10,715 | $2,779 |
| Conventional · 20.0% down | $70,000 | $10,178 | $80,178 | $2,211 |
Cash needed is before savings, gifts, assistance, or credits. See every line item in the closing cost calculator, compare long-term cost in the loan comparison calculator, or build a full plan with Paycheck to Home.
How this calculator works
Cash needed = down payment + estimated closing costs + prepaids and initial escrow deposits. Closing costs are itemized with the same defaults as our closing cost calculator, including any upfront FHA, VA, or USDA fee you choose to pay in cash. Program minimums and fees follow current published program rules.
Savings gap = cash needed + optional reserves − current savings − gift funds − assistance − seller credits. Seller credits are applied only up to closing costs and prepaids. The ready-to-buy date divides the gap by your monthly savings without investment growth.
Frequently asked questions
›What is the minimum down payment to buy a house?
Eligible VA and USDA borrowers can buy with no down payment. FHA requires 3.5% with a credit score of 580 or higher. Some conventional programs allow 3% for eligible buyers, and many conventional loans start at 5%. You still need cash for closing costs and prepaids unless credits or assistance cover them.
›Do I need 20% down?
No. Putting 20% down on a conventional loan avoids private mortgage insurance, but many buyers put down less and pay PMI until they reach about 20% equity. FHA mortgage insurance follows different rules.
›How much cash do I need to close beyond the down payment?
Closing costs often run about 2% to 5% of the price, plus prepaid interest and insurance and initial escrow deposits for taxes and insurance. This calculator itemizes those estimates so you can see the full amount.
›Can gift money be used for a down payment?
Yes, on most loan programs, from an acceptable donor such as a family member, with a signed gift letter and documentation of the transfer. Rules differ by program and by occupancy.
›What can seller credits pay for?
Seller credits, or seller concessions, can pay closing costs and prepaids but generally not the down payment. Each program caps them as a percentage of the price, so this calculator only applies credits up to your closing costs and prepaids.
Related calculators and guides
Closing Cost Calculator
Itemize every fee and credit at closing.
FHA vs Conventional vs VA vs USDA
Compare payments and total cost by program.
Paycheck to Home Planner
Build a full budget and readiness plan from your paycheck.
First-Time Homebuyer Guide
Programs, steps, and assistance for first-time buyers.
Program minimums assume eligibility. VA requires eligibility and a Certificate of Eligibility; USDA requires an eligible property location and household income. Assistance programs have their own rules and may be loans that must be repaid.
Calculators provide educational estimates only. They are not a loan offer, credit decision, or commitment to lend. Actual terms depend on underwriting, credit, property, and program availability.
Equal Housing Lender · NMLS #466690