Down Payment Assistance Calculator
Published Last updated
Estimate your cash to close with and without down payment assistance, and see how a repayable second changes your monthly payment.
Quick answer: What would your monthly payment be?
Your monthly payment is principal and interest plus property taxes, homeowner's insurance, any mortgage insurance, and any repayable assistance second. Taxes and insurance vary sharply by state and county, which is why two identical homes in different counties can differ by hundreds of dollars a month.
TL;DR
- Principal and interest is usually only about two thirds of the payment.
- Property tax and insurance are set locally, not by the lender.
- Estimates only — not a quote or an offer of credit.
Quick questions
- Is mortgage insurance included?
- Include it whenever you're putting less than twenty percent down, which is nearly every assistance scenario.
Simply Approved Mortgages DPA
DPA amount calculator & eligibility checker
Estimate 3.5% assistance on the lesser of price or appraisal, layered over a 30-year fixed FHA first mortgage.
Amount calculator
- Lesser of price or appraisal
- $400,000
- DPA at 3.5%
- $14,000
- 2nd-lien term
- 10-year fixed, repayable
- 2nd-lien rate
- 8.500%
- Monthly P&I
- $174/mo
Illustrative only — not a quote, lock, offer, or commitment to lend. Binding figures appear only on your Loan Estimate and Closing Disclosure.
Want a copy of these numbers? We'll email them to you, with the assistance programs in our database for your state.
Eligibility checker
Documentable qualifying income?
Willing to complete homebuyer education before closing?
Property in NY, WA, USVI, Guam, MP, or AS?
Answer each question above to see your preliminary result.
Preliminary self-check only. Not a quote, lock, offer, or commitment to lend. Simply Approved Mortgages is not affiliated with HUD, FHA, VA, USDA, FHFA, or any government agency. Equal Housing Opportunity. NMLS# 2620881.
For informational and illustrative purposes only.
The figures produced here are estimates generated from the numbers you entered. They are not a loan offer, pre-approval, approval, commitment to lend, rate quote or rate lock, and they do not guarantee any loan term, payment or amount of assistance. Your actual figures depend on lender underwriting, program rules, property, credit profile and the pricing available on the day you lock.
This estimate excludes property taxes, homeowners insurance, mortgage insurance, HOA dues, closing costs unless the tool states otherwise, so your real monthly cost and cash to close will be higher.
Simply Approved Mortgages LLC | NMLS #2620881 | Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration | Equal Housing Opportunity. Residential mortgage loans are arranged in Florida and Colorado only.
Keep planning
- Cash-to-close estimator — what has to be on the table at closing after credits and assistance.
- County loan limit lookup — the published 2026 FHA and conforming limits for your county.
- First-time buyer eligibility explainer — the six rules that decide most assistance files.
- All tools and lookups
October 2026 Assistance Calculator Review
We reviewed calculator assumptions and methodology, published assistance structures and repayment terms and mortgage-rate environment used for illustration relevant to this page. No material changes requiring substantive revisions were identified this month. The information and sources shown here remain current as of our latest review.
- Checked: calculator assumptions and methodology
- Checked: published assistance structures and repayment terms
- Checked: mortgage-rate environment used for illustration
- Sources:
- U.S. Department of Housing and Urban Development (HUD)
- Data last verified:
- 2026-01-01
- Data year:
- 2026
This page's scheduled monthly review is overdue. The section above reflects our latest completed review, not a new one for the current month.
Current data & page updates
- Page last reviewed
- September 27, 2026
- Page last substantively updated
- September 27, 2026
- Data last verified
- January 1, 2026
- Current data year
- 2026
- Primary sources
- U.S. Department of Housing and Urban Development
- Next scheduled review
- October 27, 2026
- Current monthly review
- October 2026
- Live data feed
- No
This page is past its scheduled review date and is queued for the next review cycle.
Licensing & Disclosures
Simply Approved Mortgages LLC | NMLS #2620881
Florida Branch Office (Miami, FL) | Branch NMLS #2688012
Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration
Business Phone: (877) 813-7219
Equal Housing Opportunity
Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado.
Down payment assistance programs. Down payment and closing-cost assistance programs listed or referenced on this site may be administered by third parties, including state housing finance agencies, cities, counties, Federal Home Loan Banks, nonprofit organizations, lenders, and other program sponsors. Simply Approved Mortgages LLC does not administer, control, fund, or guarantee third-party assistance unless expressly stated otherwise.
Listing or displaying a program does not constitute an offer of that program, a representation that funding is currently available, or a determination that a borrower or property qualifies. Program availability, funding, assistance amounts, income limits, purchase-price limits, credit requirements, occupancy requirements, geographic restrictions, homebuyer education requirements, participating-lender requirements, repayment terms, and other eligibility criteria vary by program and may change or become unavailable without notice. Eligibility and current program terms must be confirmed for the particular transaction.
Types of assistance. Down payment or closing-cost assistance may be structured as a grant, forgivable loan, deferred-payment loan, repayable second mortgage or other form of assistance. Assistance structured as a lien or secondary financing may be subject to repayment, forgiveness, occupancy, resale, refinance, or other conditions. Assistance should not be considered "free money" unless the applicable program documents expressly provide that the assistance is a grant with no repayment obligation.
Receiving or potentially qualifying for down payment assistance does not guarantee mortgage approval, guarantee receipt of assistance, or necessarily eliminate all funds that a borrower may be required to contribute to a transaction.
Credit and program terms. All loans are subject to lender credit approval, underwriting, acceptable appraisal, title review, insurance, and supporting documentation. Eligibility, programs, rates, APRs, points, fees, payments, terms, loan amounts, down-payment requirements, and availability may vary based on borrower, property, occupancy, credit profile, loan-to-value ratio, debt-to-income ratio, lender, assistance program, and location and may change without notice. Not all borrowers, properties, products, or programs will qualify or be available in every location. Nothing on this site constitutes a loan approval, rate lock, offer, commitment to lend, guarantee of assistance, or guarantee of closing.
Rates, payments and calculators. Rates, APRs, payments, down payments, estimated assistance amounts, affordability, home prices, closing costs, savings, and other calculator or scenario results displayed on this site are estimates or illustrations unless expressly stated otherwise. Actual eligibility, assistance, and loan terms may differ. Taxes, homeowners insurance, mortgage insurance, association dues, lender charges, broker compensation, discount points, third-party charges, and other costs may apply. Advertised rates, payments, APRs, down payments, and other credit terms are subject to the assumptions and disclosures presented with the applicable advertisement.
Government affiliation. Simply Approved Mortgages LLC is not a government agency and is not affiliated with, acting on behalf of, sponsored by, or endorsed by HUD, FHA, VA, USDA, any housing finance agency, or any other federal, state, or local government agency. References to government agencies, housing authorities, assistance programs, data, forms, or resources are provided for informational purposes and do not imply sponsorship or endorsement of Simply Approved Mortgages LLC.
Fair lending. Equal Housing Opportunity. Simply Approved Mortgages LLC conducts business in accordance with applicable federal and state fair-housing and equal-credit-opportunity laws and does not discriminate on any prohibited basis.
No professional advice. Content on this site is educational and general in nature and is not legal, tax, accounting, financial, or investment advice. Borrowers should review the applicable program documents and consult qualified professionals regarding their individual circumstances.