Home Buyer Savings Calculator | Down Payment

When buying a home, your down payment plays a huge role. The upshot is you'll need to create a savings plan to know how long it will take to reach your number.

Create and fine-tune your plan based on your home's purchase price

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

Financial Calculators from
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*indicates required.

Home down payment inputs:

Purchase price of home:*This entry is required.Enter an amount between $0 and $250,000,000

Down payment:*This entry is required.Enter an amount between 1% and 100%

Amount currently saved:*This entry is required.Enter an amount between $0 and $10,000,000

Expected rate of return:*This entry is required.Enter an amount between 0% and 20%

Years to save:*This entry is required.

**FIG_GRAPHTITLE** Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

To reach your goal in KJE2 years, you need to save KJE1 each month

Definitions

Purchase price of home

The total cost of the home you would like to purchase. Please keep in mind that the cost of buying a house is more than just the price of the house; there may be fees and closing costs associated with your mortgage as well.

Estimated down payment

The portion of the property's sale price that is fully paid to the seller at closing. With conventional loans, a 20% down payment will allow you to forego carrying Private Mortgage Insurance (PMI).

Amount currently saved

Total amount you currently have saved for your new home.

Years to save

The number of years you wish to save.

Estimated interest rate on your savings

This is the interest rate you are currently earning on your saved amount. For the purposes of this calculator, taxation is not factored into the results.