ConvertOnlineDown Payment Calculator with Closing Costs and Cash Reserve
Report source: https://convertonline.org/calculators/down-payment-calculator
Estimate the cash needed for a home purchase while keeping an emergency reserve separate. Switch modes to solve for cash, home price, or down-payment percentage.
Calculations run in your browser. Your financial inputs are not uploaded or stored.
Down Payment Calculator
Estimated down payment and cash needed
Detailed results
Swipe or scroll horizontally to see every column.
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How the down payment calculator works
Cash needed = home price × down-payment percentage + estimated closing costs + protected reserve. Affordable price = cash after reserve ÷ (down-payment percentage + closing-cost percentage).
Cash to close excludes the emergency reserve. The reserve stays separate so the result does not assume every available dollar is spent at closing.
How to use this calculator
- Choose whether to solve for cash needed, supported home price, or down-payment percentage.
- Enter closing costs and the emergency cash you want to protect.
- Review down payment, cash to close, reserve, loan amount, and estimated principal-and-interest payment.
Assumptions and limitations
- Closing costs are estimated as a percentage of home price; actual lender and third-party charges vary.
- The emergency reserve is kept outside cash to close.
- A down payment below 20% is a prompt to investigate mortgage insurance, not a statement that PMI is required.
Sources and further reading
Worked example
Example: 20% down on a $400,000 home
A 20% down payment is $80,000. At 3%, estimated closing costs are $12,000.
Cash to close is about $92,000. Keeping a separate $10,000 emergency reserve means having about $102,000 available.
Frequently asked questions
Does cash to close include the emergency reserve?
No. Cash to close combines the down payment and estimated closing costs. The reserve is shown separately and remains protected.
Are closing costs always 2% to 5%?
That range is a common planning reference, but actual costs depend on the loan, location, services, credits, prepaid items, and transaction.
Does putting less than 20% down always require PMI?
No. Mortgage-insurance rules and products vary. The calculator flags the percentage so you can ask lenders what applies.
This calculator provides an estimate for planning and education. Actual lender calculations, rates, costs, taxes, insurance, market changes, and individual circumstances may differ.