Down Payment Calculator
Figure out your down payment target and exactly how long it will take to get there. Enter the home price, your savings rate, and what you have already set aside.
How this calculator works
The target is the home price times your chosen percentage. Each month your savings grow by the annual return rate divided by 12, then your monthly contribution is added — the same compounding a high-yield savings account or brokerage gives you. The calculator counts months until the balance crosses the target.
Frequently asked questions
Is 20% down really necessary?
No. 20% just avoids private mortgage insurance (PMI). With 5–10% down, PMI typically costs 0.3–1.5% of the loan per year and drops off once you reach 20% equity — see the PMI calculator. If buying sooner beats the extra PMI cost, a smaller down payment can still win.
Should I count investment gains as part of my down payment?
Only money you can actually access at closing. Retirement accounts usually have penalties before 59½, and invested money can be down 20% the month you need it. Keep the down payment in a high-yield savings account or short-term CDs — the return rate field lets you compare.
How much more does 20% down cost in savings time?
Roughly double the 10% target. On a $400,000 home saving $1,000/month, 10% ($40,000) takes about 3 years while 20% ($80,000) takes about 5–6 years. The calculator shows the exact months for your numbers, so you can weigh PMI cost against waiting.
Disclaimer: Results are estimates for general information only and do not constitute financial, tax, or legal advice. Figures reflect 2026 rules and may change. Always confirm current limits and consult a qualified professional before making decisions. Official figures: IRS.gov · 2026 limits per IRS tax inflation adjustments.