Term (years)
                                                                Discount points
                          %                           %           Origination fee
                          %                           %           Upfront costs
        $                           $                             
   
  
 Your savings rate
    %
          Your state + federal tax rate
                          %            Purchase price
        $                             Yearly property tax
        $                             Yearly property insurance
        $                              Years before you sell or pay off loan

  The smaller down payment will cost you $4,028 over the 7 years. 
    
   
  Less down More down

  Percentage down

       5.00%        10.00%       

  Loan amount

       $118,750        $112,500       

  Principal and interest

       $751        $693       

 Taxes and insurance

       $183        $183       

 Mortgage insurance

       $77        $49              
      

  Total payment

       $1,011        $925 
  
    
  The total cost of each loan is graphed above. Usually the longer you intend to hold the loan, the greater the advantage in using a larger down payment due to the fact that you pay less interest over time. A large down payment may be less advantageous, however, if you intend to sell the home, refinance, or pay off the loan in the near future.   
    
  This graph provides additional detail to the one immediately above. The extra cost of the less advantageous loan option is charted here.
 
  Note that the longer you own the home or the longer you wait to pay off or refinance the loan, the greater difference between the costs of the two loans.