The more you put down, the less you’ll pay over the long haul
Saving the thousands of dollars needed for a significant down payment on a house isn’t easy. But it may well be worth the extra effort. If you can muster a down payment of, say, 10% instead of 5% — or even 20% instead of 10% — you’ll reduce the overall amount you need to borrow. And, as this calculator reveals, bigger down payments pay dividends for years to come by reducing the interest you pay on your mortgage.