Down Payment Calculator
How Do I Calculate My Down Payment?
Down Payment = Home Price × Down Payment Percentage
That means you take the total price of the house and multiply it by the percent you plan to pay up front.
What is the minimum down payment for a home?
Your minimum down payment depends on the type of home you’re buying and the loan you use. Some government-backed options can go as low as 0% down, while many conventional loans land in the 3–5% range. First-time buyers on the Treasure Coast often use programs like HomeReady or HomePossible to start closer to 3%. Most other conventional borrowers should plan for at least 5% down.
Requirements also change based on whether the property is your primary residence, a second home, or an investment. Lender rules, loan type, credit profile, and local market conditions all play a role. Not sure what fits you? Zarro Mortgage Group will run the numbers and show you where your best payment and rate meet your budget.
| Primary home | Second home | Investment property | |
|---|---|---|---|
| Conventional loan | 3–5%* | 10% | 20% |
| Jumbo loan | 20% | 25% | 25% |
| FHA loan | 3.5% | FHA loans can’t be used on second homes | FHA loans can’t be used on investment properties |
| VA loan | 0% | VA loans can’t be used on second homes | VA loans can’t be used on investment properties |
| USDA loan | 0% | USDA loans can’t be used on second homes | USDA loans can’t be used on investment properties |
*3% is available on certain qualifying programs; many borrowers put at least 5% down.
Why is a 20% down payment often recommended?
A 20% down payment is often recommended, because it allows the borrower to avoid paying PMI — a type of insurance that protects the lender if you default on the loan. A higher down payment can also lower your monthly mortgage payment, reduce the amount of interest paid over time, and potentially improve your chances of loan approval. However, 20% is not a required amount.
Frequently Asked Questions About Down Payments ?
How much should I put down on a home on the Treasure Coast?
Your down payment depends on your loan type and financial goals. Most Treasure Coast buyers in Martin and St. Lucie County put down between 5% and 20%. A higher down payment can lower your monthly mortgage payment and interest rate. Use the Zarro Mortgage Group Down Payment Calculator to see how different percentages affect your budget.
Can I buy a home in Martin or St. Lucie County with no down payment?
Yes — some programs, like VA loans for veterans or USDA loans for qualifying rural areas of the Treasure Coast, offer no-down-payment options. If you’re eligible, you could move into a home in Port St. Lucie, Stuart, or Palm City with little to no upfront cash. Our calculator can show you how these options compare.
How does my down payment affect my monthly mortgage payment?
A larger down payment means a smaller loan balance, which lowers your monthly mortgage payment. For example, putting 20% down on a $400,000 Treasure Coast home reduces your monthly cost by hundreds compared to a 5% down payment. Compare different down payment amounts in our calculator to see the difference.
Does my credit score change how much I need to put down?
Yes — your credit score can impact your loan terms and required down payment. Buyers with higher credit scores often qualify for lower down payment options and better interest rates, while lower scores might need a bigger down payment to qualify. Zarro Mortgage Group helps Treasure Coast buyers find the best program for their situation.
Can I use gift money or a local down payment assistance program?
Absolutely! Many Treasure Coast buyers use gift funds from family or down payment assistance programs offered through Florida’s state and county programs. Whether you’re buying in Stuart, Port St. Lucie, or Jensen Beach, these programs can help cover part or all of your down payment — just make sure you follow lender documentation rules.
What’s the difference between closing costs and a down payment?
Your down payment goes toward the price of the home, while closing costs cover fees like title insurance, loan origination, and taxes. Both are paid at closing but serve different purposes. Our calculator helps you focus on how much your down payment will affect your loan size and monthly payment.
Are there first-time buyer or down payment assistance programs on the Treasure Coast?
Yes! There are multiple first-time homebuyer and down payment assistance programs available across the Treasure Coast, Martin County, and St. Lucie County. These may include grants, low-interest second loans, or forgivable assistance to help with your down payment. Zarro Mortgage Group can connect you with the right program for your location and income level.
Buy your next home with a local lender you can trust
Skip the big banks and online gimmicks. With Zarro Mortgage Group, you get real people, real answers, and real results — right here on the Treasure Coast.
We’ll help you get pre-qualified quickly, so you can shop for your dream home with confidence and clarity.