Down Payment Calculator: Calculate Your Down Payment

You don’t need to put 20% down to buy a house. Some conventional loans require down payments as low as 3%. If you qualify for a USDA or VA loan, you can buy a house with no money down.

On the flipside, making a larger down payment lowers your monthly mortgage payment. Putting more money down can help you land a better interest rate, too. So how much should you put down on a house? Use NerdWallet’s free down payment calculator to find an amount that fits your budget.

Down payments: Quick tips and more resources

Saving for a down payment to buy a house can seem overwhelming, but small steps add up over time. Here’s a checklist of our best tips and other Nerdy resources to reach your money goals.

• Figure out how much house you can afford. NerdWallet’s home affordability calculator is a good place to start.

• See if you qualify for down payment assistance. Hey, there’s free money out there! Learn how down payment assistance programs work, and browse our big list of first-time home buyer programs in many states.

• Accelerate your savings. Read our guide on how to save for a down payment.

• Benchmark your progress. There’s no one-size-fits-all goal, but it can help to know the average down payment on a house. 

• Prepare for preapproval. Getting close to your goal? Learn how to get a mortgage, and see NerdWallet’s list of best no- and low-down-payment mortgage lenders.

» MORE: Join NerdWallet to assess saving on your existing bills and help you reach your down payment goal faster.