Down payment formula
Down payment = home price × down payment percentage ÷ 100. On a $500,000 purchase, 20% is $100,000 and the remaining loan is $400,000.
Down payment is one part of cash to close
Closing fees, prepaids, deposits and credits also affect the funds you need. Use the NJ cash to close calculator to include them. Available down payments depend on loan eligibility and lender requirements.
Source: CFPB Loan Estimate explainer. Example values are illustrative, not live lender quotes.