If you're buying a home, the down payment will be the portion of the cost of the house that you pay up front. After the down payment, the remaining balance of the cost of the home is generally lent to the buyer by a bank or mortgage company and then paid off over time by the buyer. While a common down payment amount is 20% of the purchase price of a home, down payments are often more or less than 20% of the purchase price. The percent of the purchase price of a home that is paid as a down payment will impact the monthly payment amount on your mortgage. By using the house down payment calculator below you'll be able to determine what your monthly mortgage payment will be based on your down payment amount under scenarios you select, using a fixed rate mortgage loan.
Please note that the calculator tool provided is for informational purposes only and does not reflect any specific mortgage or home equity line of credit offered by Leader Bank or any specific terms that may be available for such products. For information on available Leader Bank products and services, please contact a Leader Bank loan officer directly. Examples of monthly payment amounts shown in calculators may not include taxes, insurance or any condominium or HOA fees applicable; as such your total monthly housing payment would be higher.
