FREE HOME DECISION TOOL

Down Payment Savings Calculator

Plan a home down payment by comparing a target amount with current savings, monthly contributions, expected growth, and a desired purchase timeline.

Free to useGuided field explanationsYour inputs stay on your device

YOUR NUMBERS

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You can use estimates and return later with more precise figures.

New to these numbers?Every field includes a plain-language hint. Open Why it matters to see how it changes the rest of your estimate.

Target home priceThe agreed or estimated property price before financing costs.

Why it matters

A higher price increases the loan, down payment, taxes, closing costs, and many reserves.

Target down paymentThe percentage of the purchase price you want to contribute upfront.

Why it matters

Your target and home price jointly set the dollar goal.

Amount already savedMoney already dedicated to this purchase goal.

Why it matters

Savings reduce the remaining gap; keep emergency reserves separate unless you truly plan to use them.

Monthly amount you can addThe amount you can consistently add to the goal each month.

Why it matters

The remaining gap divided by this amount creates the estimated timeline.

Closing-cost reserveA planning allowance for lender, title, legal, recording, and settlement charges.

Why it matters

Because it is a percentage of price, a higher purchase price raises this cash requirement too.

Protected post-close emergency reserveCash you intend to keep available after the purchase rather than spend at closing.

Why it matters

Protecting this reserve raises the savings target but reduces vulnerability to repairs and income disruption.

Annual savings yieldAnnual yield expected on the dedicated savings balance before tax.

Why it matters

Yield can modestly shorten the timeline, but contributions usually drive the result.

Target timelineThe number of years until you want the complete purchase fund ready.

years

Why it matters

The target date determines the monthly contribution needed, not just the date reached at the current pace.

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CALCULATOR GUIDE

How to use the down payment savings calculator

This calculator turns a down-payment target into a savings gap and estimated timeline. It can help you test different monthly contributions or target percentages before choosing a purchase plan.

Key assumptions and limitations

The target home price and down-payment percentage remain unchanged.
Savings contributions occur consistently and any entered return is not guaranteed.
Closing costs, reserves, and moving expenses are separate unless included in your target.

Common questions

Does the target include closing costs?

Only if you deliberately include them in your savings target. Use the Cash to Close calculator for a broader estimate.

Can I use a smaller down payment?

Some programs may allow it, but mortgage insurance, rate, qualification, reserves, and monthly payment may change.

Educational estimates only. Verify important home, lending, insurance, tax, and legal decisions with the appropriate qualified professionals.

Down Payment Savings Calculator

Tell us what you know today.

How to use the down payment savings calculator

Key assumptions and limitations

Common questions

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