Mortgage Calculators
Down Payment Calculator
Work out the deposit required at a given percentage, what it leaves you to borrow, and how long it takes to save the difference.
Deposit required
$70,000
- Amount to borrow
- $280,000
- Still to save
- $45,000
- Time to reach it
- 38 months
- Saved
- Still needed
Deposit
How this calculator works
Deposit = price × percentage; Months = shortfall ÷ monthly saving
- shortfall
- the deposit required minus what you have already saved
Important considerations
- Closing costs sit on top of the deposit and are often 2–5% of the price.
- A 20% deposit typically removes private mortgage insurance on conventional loans.
Related calculators
- Mortgage Affordability CalculatorHow much house your income and debts realistically support.
- Closing Cost CalculatorTotal cash needed to close, deposit included.
- Loan-to-Value CalculatorLTV ratio, equity and the gap to the next rate band.
- Savings Goal CalculatorMonthly saving needed to hit a target.
- Mortgage CalculatorEstimate your total monthly mortgage payment and see the amortisation schedule.
- Mortgage Payment CalculatorPrincipal and interest payment on any home loan amount.
Learn more
Terms used here
Frequently asked questions
Is 20% required?
No. Many programmes accept 3–5%, but a smaller deposit usually means mortgage insurance and a higher rate.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01