Free tool

Down Payment Calculator

Your down payment goal, how far along you are, and the month you get there at your current savings pace.

Your plan

Target home price$Down payment20%Saved so far$Monthly savings$

Goal

$80,000

Still to save

$65,000

Goal reached

May 2033

At $800/mo, that's 6y 10m away. Don't forget closing costs — typically another 2%–5% of the price.

Savings vs. goal

How this works

Twenty percent down avoids PMI on conventional loans, but plenty of buyers put down less: conventional loans go as low as 3%, FHA 3.5%, and VA/USDA can be 0% for those who qualify. A smaller down payment means a bigger loan, a higher monthly payment, and usually PMI — a trade-off between buying sooner and paying less over time. Money earmarked for a near-term down payment is commonly kept in high-yield savings rather than invested.

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