The down payment on a mortgage used to purchase a home is the lower of sale price and appraised value less the loan amount. The comparable number on a refinance is the borrower’s equity, which is the appraised value less the loan balance. On a home purchase, borrowers need cash to meet the down payment requirement, and also to pay settlement costs. On a refinance, they only need cash for settlement costs, and if they have enough equity, the costs can be included in the mortgage. Suggested reading: What Is the Down Payment?

Down Payment Calculator: Rate of Return on Larger Down Payment.
For borrowers with enough cash to make a down payment in excess of the minimum required on a particular loan, who may want to know whether using the cash to increase the down payment is a good investment.

Less-Than-20% Down Calculator: Allocation of Cash Between Down Payment and Points
For borrowers who cannot put 20% down and are seeking the best allocation of their cash between down payment and points.

Cash Contribution Calculator: Seller Contributions Versus Lender Contributions.
For home purchasers trying to decide whether to seek help with their settlement costs from the house seller, at the cost of a higher sale price, or from the lender at the cost of a higher interest rate.