Calculator
Condo Down Payment Calculator
Calculate down payment amounts and remaining loan balance for a condo purchase.
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.
Last updated: May 2026
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.
When this matters
- You are deciding between 5%, 10%, and 20% down for the same unit
- You need total cash including closing, not just down payment
What this calculator does not include
- 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 grant program rules
See our methodology page for how each input is defined and how to interpret results.
Common 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 most recent financial statements
- Reserve study and percent-funded summary
- Master insurance policy declarations and renewal terms
- Board meeting minutes from the past 12–24 months
- Pending or approved special assessment notices
- County or municipal property tax estimator for the unit
- HO-6 insurance quote matched to master policy coverage
- Lender condo questionnaire or project approval status
Assumptions and limitations
- Outputs are planning estimates only, not quotes from lenders, insurers, or tax authorities.
- Actual HOA dues, insurance premiums, and tax assessments vary by building, location, and ownership status.
- PMI, special assessments, and reserve risk are modeled with simplified assumptions unless you enter your own figures.
- Always confirm numbers with association documents, your agent, and qualified professionals before making an offer.
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