Calculator
Condo Down Payment Calculator
Calculate down payment amounts and remaining loan balance for a condo purchase.
By True Condo Cost editorial team · Editorial standards
Down payment size affects your rate, PMI, and monthly payment. Condos may require larger down payments in buildings with low owner-occupancy or litigation.
See how different down payment percentages change cash needed at closing.
Your numbers
What this means
0.0% down on $0 requires $0 plus about $0 in closing costs.
Assumptions and limitations
- Closing cost percentage is a rough estimate; get a lender quote for accuracy.
Frequently asked questions
- Can I buy a condo with 5% down?
- Some loan programs allow it, but PMI applies and the building must meet lender project guidelines.
- Is down payment the only cash I need?
- No. Budget for closing costs, prepaids, moving, and reserves after closing.
Run these next
Most buyers model HOA, insurance, and assessments in separate passes.
Down payment is not the only cash gate
10% on $400K is $40K down—but condos often need another $15K–$25K for closing, contributions, and first-year assessment buffer. Savings targets should include HOA-side cash.
Low down programs and warrantability
3–5% programs exist but condo project review may fail where single-family passes. Confirm warrantability before you anchor on minimum down marketing.
Sample inputs (Down Payment)
Inputs: $400,000 price, 10% down → $40,000 down payment. Add $14,000 closing and HOA contributions plus $8,000 assessment buffer → $62,000 total cash need before move-in on this illustrative stack.
Outside this Down Payment's scope
It does not check warrantability for low-down programs on a specific building.
It does not include moving costs or furniture unless you add them.
Last updated: June 2026
When to use this calculator
- You are setting savings targets before shopping
- You want down payment plus closing plus HOA cash in one view
- You are comparing 5%, 10%, and 20% down scenarios
Inputs you need
- Target purchase price
- Down payment percent or amount
- Estimated closing and HOA contribution cash
How to interpret the result
- Total cash need exceeds down payment alone on most condos
- Low down may trigger PMI and stricter project review
What this calculator does not know
- Live tax bills, insurance quotes, or HOA budgets from any database
- Lender approval, HOA questionnaire results, or project eligibility
- Future HOA increases unless you change the inputs yourself
- Gift fund or DPA program eligibility
- Exact lender minimum for the building
Documents to verify before relying on the estimate
- CC&Rs transfer and capital contribution schedule
- Lender pre-approval conditions
Educational estimates only. Confirm figures with association documents, county tax offices, and licensed professionals before you make an offer.
Frequently asked questions
- Do condos require larger down payments?
- Some buildings with low owner-occupancy, litigation, or commercial space require larger down payments. Confirm with your lender for the specific association.
Sources to verify before buying
Use this checklist during due diligence. Calculators help you plan; these documents tell you what a specific building actually costs.
- HOA budget and audited financials (or reviewed statements if the association is small)
- Reserve study with percent-funded and component schedules — often prepared under CAI / APRA standards
- Master insurance declarations: carrier, deductible, wind/hail sublimits, and coinsurance
- Board minutes covering the last two insurance renewals and any assessment votes
- Written special assessment notices and payment plans
- County assessor or municipal property tax estimator for the parcel (not a neighbor’s bill)
- HO-6 quote aligned to master policy gaps — confirm with your state Department of Insurance licensed agent
- Lender condo questionnaire or Fannie Mae / Freddie Mac project review status for warrantability
Related calculators
Explore more tools for your condo search
- Condo Closing CostEstimate buyer closing costs for a condo purchase including fees, prepaids, and reserves.
- PMI RemovalEstimate when you can drop private mortgage insurance based on equity and payments.
- Condo AffordabilityFind out how much condo you can afford based on income, debts, and total housing payment.
Related guides
Learn the basics before you run the numbers