Down Payment Calculator

Loan Payment after Down Payment Calculator

Input Fields

Loan Amount

$

Enter the total loan amount

Interest Rate

%

Enter the annual interest rate

Term (years)

years

Enter the loan term in years

CalculateReset

Your Results

0% Down Payment

0% Monthly Payment

1% Down Payment

1% Monthly Payment

3% Down Payment

3% Monthly Payment

5% Down Payment

5% Monthly Payment

10% Down Payment

10% Monthly Payment

15% Down Payment

15% Monthly Payment

20% Down Payment

20% Monthly Payment

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Monthly Payment Formula after Down Payment

$$\text{Monthly Payment} = \frac{P \times r}{1 – (1 + r)^{-n}}$$

Where:

• $$P$$ = Loan principal after down payment
• $$r$$ = Monthly interest rate (annual interest rate divided by 12)
• $$n$$ = Total number of monthly payments
• $$Monthly Payment$$ = Fixed monthly loan payment

The Down Payment Calculator helps you determine your monthly payment amount after factoring in a down payment on a loan or mortgage. By adjusting the principal with the down payment, you can better plan your loan affordability and monthly budget.