Set a home price and a down payment goal, then see how many months of saving it takes to get there while your savings earn interest.
A down payment savings calculator shows how long it takes to reach your target down payment when your savings earn interest along the way. Set a home price and a percent goal, then see the dollar target and a month-by-month timeline.
Putting 20% down on a conventional loan avoids private mortgage insurance and often earns a better rate, which lowers the payment for the life of the loan. Many buyers put down less using conventional, FHA, or VA programs, but a larger down payment shrinks the loan and the total interest, so it is worth aiming for when you can.
The timeline depends on how much you set aside each month and the return on your savings. A high-yield savings account or money-market fund keeps the money safe and liquid while it earns interest, which shortens the wait. Because home prices and rates can move while you save, revisit the target periodically rather than locking in a single figure.
20% avoids private mortgage insurance and lowers your rate, but many buyers put down less. Put down what you can without draining your emergency fund.
In a safe, liquid account such as a high-yield savings or money-market account, so it earns interest without market risk while you save.
Yes. More down means a smaller loan, a lower monthly payment, less total interest, and at 20% no mortgage insurance.
See the exact formula and a worked example on our methodology page.