Department of Labor Federal Credit Union

How Much of a Down Payment Should I Make on My New Home?

Use this calculator to compare up to three different mortgage down payment options to find the one that works best for you.

Property Information

Purchase Price:
Yearly Property Taxes:
Yearly Property Insurance:

Down Payments

Enter the down payment values you would like to compare.

Down Payment 1:
Down Payment 2:
Down Payment 3:

Mortgage Information

Mortgage Type:
Mortgage Term (Years):
Interest Rate:
Discount Points:
Closing Costs:
(not including discount points)

Annual Interest Rate

Enter the annual interest rate that you want to use for this loan.

Mortgage Term

Enter the term of your mortgage in years.

Discount Points

Discount points are a form of pre-paid interest that you can pay as a means of obtaining a lower mortgage interest rate. One point equals 1% of the loan amount. Enter the discount points for this loan.

Closing Costs

Enter any closing costs including appraisals, settlement fees, etc. Do not include discount points.

Yearly Property Taxes

Enter your estimated yearly property taxes for this mortgage. Property taxes are usually calculated as a percentage of your home's assessed value. For example, if you pay 0.5% in property taxes of the assessed value, a home assessed at $270,000 would have a yearly property tax bill of $1,350.

Yearly Property Insurance

Enter your estimated property insurance. Lenders require that you carry home owners insurance on the property to protect their investment should a catastrophic accident occur.

Purchase Price

Enter the purchase price of your property.


Department of Labor Federal Credit Union

Serving employees and contractors who work for the Department of Labor, their families and associated organizations. See website for details.

200 Constitution Ave
Rm S-3220
Washington, DC 20210-0001
(202) 789-2901

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