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Choosing between a 20% and 10% down payment impacts your mortgage significantly. A 20% down payment eliminates PMI and reduces monthly payments, while 10% down gets you into a home sooner but increases monthly costs and requires mortgage insurance.
Enter the purchase price of the home.
Input your down payment amount (20% recommended).
Enter the mortgage interest rate (APR).
Choose loan duration (typically 15 or 30 years).
See complete PITI payment breakdown.
Adjust values to find the best mortgage.
Enter the purchase price of the home.
Input your down payment amount (20% recommended).
Enter the mortgage interest rate (APR).
Choose loan duration (typically 15 or 30 years).
See complete PITI payment breakdown.
Adjust values to find the best mortgage.
Choosing between a 20% and 10% down payment impacts your mortgage significantly. A 20% down payment eliminates PMI and reduces monthly payments, while 10% down gets you into a home sooner but increases monthly costs and requires mortgage insurance.
The best choice depends on your individual financial situation, goals, and constraints. Use the calculators above to compare both options with your specific numbers.