Does this include PMI?

No. It only shows savings to reach a target down payment. PMI depends on LTV and loan type.

What about closing costs?

Not included. Add separate savings for closing costs and reserves.

Is investment growth included?

No. It assumes static monthly savings and no growth.

Can I change the target %?

Yes—adjust the down payment percentage input.

Is this financial advice?

No. It’s an informational planning tool.

finance calculator

Down Payment Savings Calculator

See how much you need for a down payment, how much remains, and how many months to reach it with current savings rate.

Results

Target down payment: $80,000
Remaining to save: $70,000
Months to goal: 46.67

How to use this calculator

Enter home price and desired down payment percentage.
Enter current savings and monthly savings rate.
Review target down payment, remaining amount, and months to reach your goal.

Inputs explained

Down payment %: Set to your target (e.g., 20% to avoid PMI; adjust as needed).
Monthly savings: Amount you can save each month toward the down payment.

How it works

Target down payment = Home price × Down payment %. Remaining = Target − Current savings. Months to goal = Remaining ÷ Monthly savings.

Formula

Target = Price × %
Remaining = Target − Current savings
Months = Remaining ÷ Monthly savings

When to use it

Planning how long it will take to save for a home down payment.
Checking impact of changing down payment percentage or monthly savings.
Determining remaining savings needed before shopping for a home.

Tips & cautions

If remaining is zero or negative, you’ve met the target.
Increase monthly savings or lower target % to reach the goal faster.
Consider closing costs and reserves separately; not included here.
No investment growth, interest, or inflation modeled.
Does not include closing costs or reserves—this is down payment only.

Worked examples

$400k home, 20% down, $10k saved, $1,500/mo

Target = $80k
Remaining = $70k
Months ≈ 46.7

$500k home, 15% down, $25k saved, $2,000/mo

Target = $75k
Remaining = $50k
Months ≈ 25

Deep dive

Plan your home down payment by entering home price, down payment %, current savings, and monthly savings to see remaining amount and months to goal.

Use it to set a savings timeline for buying a home.

FAQs

Does this include PMI?: No. It only shows savings to reach a target down payment. PMI depends on LTV and loan type.
What about closing costs?: Not included. Add separate savings for closing costs and reserves.
Is investment growth included?: No. It assumes static monthly savings and no growth.
Can I change the target %?: Yes—adjust the down payment percentage input.
Is this financial advice?: No. It’s an informational planning tool.

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Down payment savings estimate only. Does not include investment growth, closing costs, or reserves. Consult a financial professional for personalized advice.