Working backward from the home you want
Rather than saving vaguely and hoping it's enough, this tool starts from a real target — a home price and down payment percentage — and calculates exactly what monthly saving gets you there on your timeline, crediting the growth your savings earn along the way. For more general savings goals, try the Savings Goal Calculator.
From down payment to the loan it unlocks
Once you know your down payment, run it through the Mortgage Affordability Calculator to see the loan and total home price it supports based on your income — the two numbers together give you a realistic house-hunting budget.
Frequently asked questions
How much do I need for a down payment?
It depends on the loan program — 20% avoids private mortgage insurance (PMI) on a conventional loan, but many programs allow 5–10%, and some go as low as 3%. Enter your target percentage here; a smaller down payment means a bigger loan and monthly payment later.
Should I keep down payment savings invested or in cash?
For a timeline under about 3 years, keep it safe in a high-yield savings account — investments can drop in value right when you need the cash. For a longer timeline you might accept more risk, but be ready to adjust your date if the market dips near your goal.
Does a bigger down payment always make sense?
It lowers your loan, monthly payment and total interest, and can avoid PMI — but only put down what leaves you a healthy emergency fund. Being house-rich and cash-poor is a real risk.
What if the monthly amount looks too high?
Stretch the timeline, lower the target down payment percentage, or increase how much you can save — see the effect of each instantly by adjusting the sliders.
Last updated: June 2026