How much should I put down?

20% avoids private mortgage insurance on conventional loans, but many buyers put down 3–10%. FHA loans allow 3.5%.

How much are closing costs?

Buyer closing costs commonly run about 2–5% of the purchase price.

How is the monthly amount calculated?

Existing savings grow at the APY until the purchase date. The remaining gap is spread across monthly deposits that also earn interest.

Should I include moving and reserves?

Lenders often like to see a few months of payments in reserve. Add those amounts to your target by raising the closing cost percentage.

Yes. Everything is calculated in your browser.

Down Payment Savings Goal Calculator

Find the monthly savings needed to reach a home down payment and closing costs by a target date, including interest on your savings.

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Target home price ($)

Down payment (%)

Closing costs (%)

Already saved ($)

Years until purchase

Savings account APY (%)

Down payment

$80,000.00

Closing costs

$12,000.00

Total cash needed

$92,000.00

Monthly savings needed

$1,969.71

Interest earned on savings

$6,090.29

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About Down Payment Savings Goal Calculator

Plan your path to buying a home. Enter the target home price, down payment and closing cost percentages, what you have already saved and your timeline to see the total you need and how much to save each month.

How to use Down Payment Savings Goal Calculator

Enter the price of the home you plan to buy.
Set the down payment and closing cost percentages.
Add current savings, your timeline and savings APY to see the monthly target.

Key features

Down payment plus closing costs
Interest on existing and new savings
Monthly savings target
Any timeline in quarter-years
Runs in your browser

Frequently asked questions

How much should I put down?: 20% avoids private mortgage insurance on conventional loans, but many buyers put down 3–10%. FHA loans allow 3.5%.
How much are closing costs?: Buyer closing costs commonly run about 2–5% of the purchase price.
How is the monthly amount calculated?: Existing savings grow at the APY until the purchase date. The remaining gap is spread across monthly deposits that also earn interest.
Should I include moving and reserves?: Lenders often like to see a few months of payments in reserve. Add those amounts to your target by raising the closing cost percentage.
Is my data private?: Yes. Everything is calculated in your browser.

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