Turn the percent into dollars
The down-payment calculator shows the dollars for 5%, 10%, 15%, and 20%, plus a closing percent. That total is the cash target, not just the percent.
If the target is larger than you can save without an empty emergency fund, a lower percent with PMI, or a lower price, is the comparison to run. It is not a moral failure to put less than 20% down.
Gifts and assistance are documentation problems
A gift can count toward the down payment if the loan program allows it and the paper trail is acceptable. The calculator will not ask who gave it.
State assistance belongs in the target only after you confirm the program is open and you fit it.
| Step | Amount |
|---|---|
| Down payment | Price times percent |
| Closing assumption | Price times your percent |
| Reserve | Not included in the calculators |
Calculators
Related guides
Sources
Common questions
Should the emergency fund be the down payment?
The calculators do not force that choice. A purchase that leaves no cash for a repair is a fragile one.
Do I earn interest on the savings in these tools?
No. The rent-versus-buy tool is the one that applies an investment-return assumption, and only to its own comparison.