Savings
Down Payment Calculator
Estimate the down payment for a home price and savings plan, and how long it takes to reach your target.
Enter a home price and target down-payment percentage to see the dollar amount, then plan how long your monthly savings will take to get there.
Savings
Try the calculator
Example
A 20% down payment avoids private mortgage insurance on many loans, but a smaller down payment can make sense if it gets you into a home sooner.
Results
Target down payment
$80,000
Already saved
$20,000
Projection
Trend view
Result reading
The visual trend is moving up, with an approximate change of $49,407 across the period shown.
Planning cue
Use the output as a scenario test rather than a promise. Small input changes can materially change the result.
Down-payment percentages are a planning target; actual loan requirements vary by program and lender.
How it works
What the result is showing you
These sections explain what the calculator measures, which assumptions matter most, and where the number can be misleading.
Why 20 percent is common
Putting 20 percent down often avoids private mortgage insurance and lowers the loan size, which reduces both the payment and total interest. It is a common target, not a requirement.
Smaller down payments can work
Many loans allow far less down, sometimes as low as 3 percent. The trade is a larger loan, possibly mortgage insurance, and more total interest paid.
Saving on a timeline
The time to reach your goal depends on what you have already saved, what you add each month, and any return those savings earn before you spend them.
FAQ
Frequently asked questions
Quick answers to the questions people ask most about this calculator.
Do I need 20 percent down?
No. Many loans accept much less, but a smaller down payment usually means mortgage insurance and a bigger loan. Twenty percent is a common goal because it often avoids that insurance.
How long will it take to save?
Divide the remaining amount by your monthly savings to get a rough number of months. Any return your savings earn before purchase shortens that time a little.
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