Down Payment / House Savings

See how much to save each month to reach your down payment goal and when you'll get there.

Why plan your down payment?

A larger down payment can lower your monthly payment, help you avoid PMI (private mortgage insurance), and improve your chances of approval. Many buyers aim for 10–20% of the purchase price—or more for better rates. This tool projects how long it will take to reach your target based on your current savings and monthly contribution.

Your down payment goal

House price (optional)

Set to 0 to use target amount below; otherwise target = price × down %

Down payment %

Used when house price > 0

Target down payment

Used when house price is 0; otherwise computed from price × down %

Current savings

Monthly contribution

Amount you can add each month

Savings interest rate (% per year)

e.g. high-yield savings ~4–5%

Your down payment plan

Target down payment

Months to goal

Goal reached by

Savings over time

Progress to goal (%)

Month-by-month (first 24 months)

Month	Balance	Interest	Contribution	% of goal

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