Mortgage Down Payment Comparison Calculator  
black separator line

The Mortgage Down Payment Comparison Calculator helps you compare the benefits of different down payment options. For example, if you have high savings rate, you may want to make a lower down payment and keep the rest of your money in the bank collecting interest. For most home buyers it makes sense to make a higher down payment because it will result in lower monthly payments and less interest paid on the loan.

  • Enter ballpark values by dragging the sliders left or right. Enter exact numbers by clicking in the box and type your number (no commas).
  • The results of your calculations show in the box near the bottom of the calculator.
  • Click on tabs for details and for more options.

Down Payment Options

Hi Down Payment

Enter the maximum amount with which you are comfortable for a down payment. The maximum cannot be more than your purchase price. The minimum cannot be less than the maximum of your low down payment.

Lo Down Payment

Enter the minimum amount with which you are comfortable for a down payment. The maximum cannot be more than the minimum of your high down payment.

Purchase Price Information

Purchase Price

Enter the purchase price of the property you'd like to buy. Typically, this is the amount you are willing to offer.

General Loan Information

Loan Rate

This is the interest rate you negotiated for your loan.

Loan Term

This is the maximum contractual period you have to repay your loan, e.g. you might have a 30-year mortgage.

Pay Off Period

This is the time you plan to take to pay off the loan. It must be less than or equal to the loan term.

Savings and Tax Rate Information

Savings Rate

This is the interest rate you currently receive on your savings. This is the return on the account where you will keep any money you don't use for your down payment.

Tax Rate

This is your income tax rate.

Savings Graph Tab

The Savings Graph Tab contains an interactive line chart that shows your savings for whichever down payment option saves you the most. When the numbers on the left side of the graph (y-axis) turn negative, the Lo Down Payment Option saves you more.


Cost Comparison Tab

The Cost Comparison Tab presents an interactive table comparing the Hi and Lo Down Payment options. Rows show values for monthly payment, tax benefit, equity and total cost.


The dynamic text in the results box shows you which down payment option cost less, thus, saving you more, at the end of your specified pay off period.

black separator line