Down Payment Savings Calculator
Figure out how long until you can put a target down payment on a home, factoring in interest earned on your savings and expected home-price growth.
Inputs
How it works
Each month your balance grows by the savings APY and your contribution, while the target price grows by home-price growth. We iterate until the balance clears the moving target, giving you a realistic month count instead of a static one.
Frequently asked questions
Do I really need 20% down?
No — conventional loans allow 3%, FHA 3.5%. But 20% eliminates PMI and reduces the loan size, lowering total interest.
Where should I park down payment savings?
In liquid, principal-safe accounts: high-yield savings, money market, or short T-bills. Not stocks — a bad year could delay your purchase.
Should I include closing costs?
Yes. Budget 2–5% of the price on top of the down payment for closing, plus 1%+ for moving and immediate repairs.
What if home prices rise faster than I save?
You're saving toward a moving target. Consider a smaller price bracket or lower down payment percent — 10% with PMI is often faster than waiting for 20%.
First-time buyer grants?
Many states have DPA (down payment assistance) programs. They vary — check your state housing agency.