At 20% down, US buyers typically avoid private mortgage insurance (PMI) and Canadian buyers avoid CMHC mortgage default insurance — both add to your monthly cost.

Can I buy with less than 20% down?

Often yes, with mortgage insurance and sometimes a higher rate. The affordability calculator shows the monthly payment at any down payment level.

Calculators › Home Buyer & Owner › Mortgage Affordability Calculator › Down Payment Calculator

Calconomics

Down Payment Calculator

See exactly what a given down payment percentage means in dollars, the loan you'd carry, and how far you are from the 20% that avoids mortgage insurance — then open the affordability calculator to see the payment you can actually carry.

The purchase

Home price

Down payment

$80,000

Loan amount

$320,000

what you'd finance

The numbers

More to reach 20%

Free · part of the Mortgage Affordability Calculator toolkit

Open the full calculator →⤓ Keep this one (free)

How it's calculated

Down payment = home price × down payment %.
Loan amount = home price − down payment.
More to reach 20% = (home price × 20%) − your down payment, when that's still positive.

Our methodology & 2026 data sources →

Frequently asked questions

Why does 20% matter?: At 20% down, US buyers typically avoid private mortgage insurance (PMI) and Canadian buyers avoid CMHC mortgage default insurance — both add to your monthly cost.
Can I buy with less than 20% down?: Often yes, with mortgage insurance and sometimes a higher rate. The affordability calculator shows the monthly payment at any down payment level.

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