Northern Virginia down payment comparison

How much should you put down—and what should you keep?

Give me the price, the cash you are willing to use, and your planning rate. I’ll compare 3%, 5%, 10%, 15%, 20%, and your own amount so you can see the payment, PMI, cash due, and reserves together.

Compare the scenarios nowWalk through it with me

By Abraham Walker · Northern Virginia real estate agent · Research reviewed August 23, 2026

AWLet’s start with your purchase—not an abstract rule about 20%.
Step 1 · Your starting point

What price and cash are you working with?

“Cash available” means the money you are willing to use for this transaction, including any deposit already paid. It is not a request for your total savings or net worth.

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Include the earnest-money deposit if it came from this same pool.
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Use the note rate from a written quote when you have one—not APR.
A 5% down payment would use $37,500 before closing costs.
AWThe down payment is not the only cash leaving your account.
Step 2 · Cash to purchase

What else should we protect cash for?

Closing costs, inspections, moving, repairs, and an emergency reserve compete with the down payment. The deposit is credited back into the settlement calculation; it is not counted twice.

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A planning estimate only. The CFPB says closing costs excluding down payment are commonly 2%–5%.
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This reduces what remains due at settlement, not the total purchase cost.
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Only enter written credits and confirm what charges they may pay.
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CFPB guidance suggests considering an emergency cushion, often three to six months of expenses.
We are checking which scenarios preserve your entered reserve.
AWNow let’s make the monthly comparison more honest than principal and interest alone.
Step 3 · Monthly ownership

What belongs in your housing payment?

Taxes, homeowners insurance, association dues, and mortgage insurance affect the budget. They can change over time, so every value stays editable.

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Use the property’s actual annual tax estimate when available.
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%
Applied below 20% down. Actual PMI varies by credit, loan, property, insurer, and down-payment tier.
Why doesn’t the calculator guess a different PMI price for every tier?

An anonymous calculator does not know the credit profile or insurer pricing behind your loan. One visible planning rate is more honest than borrower-specific-looking precision. Replace it with lender figures when you have them.

The comparison now includes taxes, insurance, dues, and modeled PMI.
AWA larger down payment can change the lender’s rate—not just the loan balance.
Step 4 · Optional lender quotes

Did your lender price more than one option?

The fast path uses one planning rate for every scenario. If you have written scenario quotes, turn this on and enter those note rates so the comparison reflects the actual offer.

One shared planning rate is being used across all scenarios.
AWHere is the tradeoff I would want you to see before choosing a percentage.
Your comparison

Which option protects the balance you care about?

Tap any scenario. Every result and visual below will update without sending you back through the page.

Planning scenario · under these assumptions

10% down leaves an estimated $76,750 after the purchase.

This scenario preserves the reserve you entered.

Estimated monthly housing$5,687
Cash still due at settlement$87,500
Modeled PMI$281/month
Cash allocation view

Where does your available cash go?

Exact values stay beside every bar so size is never the only explanation.

Selected10% down
Scenario tradeoff view

What changes as the down payment grows?

Lower monthly housing usually requires more cash today. Tap a row to select it.

Your selected option10% down
Change one answer without starting over
Price, cash, or rateClosing cash and reserveTaxes, insurance, HOA, or PMILender-specific rates
Check affordability
Test the payment against your monthly obligations.Calculate detailed closing costs
Build a more complete settlement worksheet.Compare FHA and conventional
Use program-specific insurance and fee rules.
Retain your comparison

Want me to quality-check and email these scenarios?

You can use and adjust the calculator freely. To retain the personalized comparison, submit your email and I will review the entries before sending it. No cost. No obligation.

Submitting a request does not create representation or a lending relationship. The worksheet is reviewed before it is emailed.

Common questions

What I would want you to understand before deciding

Is 20% down always the best choice?

No. It may eliminate modeled conventional PMI and reduce the loan, but it also commits more cash. Compare the written rate, payment, reserves, other goals, and how long you expect to own the loan.

Is the down payment a fee?

No. The down payment becomes initial equity in the home. Closing costs and prepaid expenses are different uses of cash.

Why can 3% and 5% have different interest rates?

Lenders price risk, loan programs, mortgage insurance, credit, points, and market conditions. Ask for side-by-side Loan Estimates if you want to compare actual pricing.

Can I cancel conventional PMI later?

Possibly. Federal and investor rules can allow borrower-requested or automatic termination when requirements are met. Your servicer can explain the rules for the actual loan.

Should gift funds or assistance be counted as cash available?

Only if a lender confirms eligibility, documentation, source, timing, and any repayment or occupancy terms. Assistance rules vary.

Why include an emergency reserve?

The home purchase is not the last expense. Moving, repairs, furnishings, deductibles, and ordinary emergencies can arrive soon after closing.

Does the deposit reduce the total down payment?

The deposit is generally credited toward the funds due under the contract. It reduces what remains to be brought to settlement but is still part of the buyer’s total committed cash.

Are closing costs really 3%?

Three percent is only the starting example. The CFPB describes a broad 2%–5% range excluding down payment, and the actual Loan Estimate and settlement quote should replace it.

Does this calculator determine loan approval?

No. Approval depends on the lender’s review of income, assets, debts, credit, property, reserves, program rules, and documentation.

Does this include every Northern Virginia tax or fee?

No. This tool compares down-payment strategies. Use the detailed buyer-closing-cost calculator and written settlement quote for locality- and transaction-specific charges.

Sources and calculation notes

How the estimate is built

The calculator uses standard fixed-rate amortization. PMI is a visible editable planning rate below 20% down, not a quote. Credits reduce modeled settlement cash but never create a negative amount due. The deposit is credited against settlement cash and is not double-counted.

Research last reviewed: August 23, 2026. Next scheduled review: November 2026.

Educational planning disclosure. This calculator is not a loan quote, Loan Estimate, approval, financial plan, legal opinion, tax analysis, or investment recommendation. Rates, APR, points, fees, mortgage insurance, qualification, and assistance rules vary. Past market behavior does not guarantee future results. No brokerage, agency, lending, fiduciary, or other professional relationship is created by using the tool or requesting information. Any real-estate representation will be described in a separate written agreement signed by the applicable parties.