Work out the down payment, loan amount and loan-to-value from a price and a percentage.
It's the cash you pay upfront when buying something financed, like a home or car. The rest is covered by a loan. A 20% down payment on $300,000 is $60,000.
LTV is the loan amount divided by the purchase price, as a percentage. A bigger down payment means a lower LTV, which usually means better loan terms.
A larger down payment lowers your loan, your monthly payment and your total interest — and on a mortgage, going to 20% down typically removes private mortgage insurance.