Down Payment Savings Calculator

It depends on your target, current savings, monthly contribution, and expected return. For a $60,000 down payment with $10,000 saved and $500/month at 5% return, it takes about 8 years. Increase savings or return to shorten the timeline.

Aim for 20% of the home price as a down payment to avoid PMI. For a $300,000 home, that's $60,000. At $500/month and 5% return, about 8 years. At $1,000/month, about 5 years. Use the calculator with your target.

For a 1–3 year horizon: high-yield savings or money market. For 5+ years: consider a mix of bonds or index funds for higher return, with the understanding of market risk. Keep funds accessible when you're ready to buy.

No. Many loans allow 3–10% down, but you'll pay PMI (private mortgage insurance) until you reach 20% equity. FHA loans can go as low as 3.5%. A larger down payment lowers your monthly payment and total interest.

At 20% down, $80,000. At 10% down, $40,000 (plus PMI). At 3.5% (FHA), $14,000. First-time buyers average 7% ($28,000); all buyers average 13%. A larger down payment lowers your loan, monthly payment, and total interest. Use the calculator to see how long to save for your target.