Ad · top
Buyers
Down Payment Savings Calculator
Figure out exactly when you'll have your down payment saved. Factors in your current balance, monthly savings, and the interest your savings account earns.
$
%
$
$
%
You might also need
Open a High-Yield Savings
4-5% APY accounts that beat brick-and-mortar banks 10x over.
Compare accounts →
First-Time Buyer Programs
Find local programs offering down payment grants and forgivable loans.
Search programs →
Sponsored links. We may earn a commission at no extra cost to you.
How to use this calculator
- Enter the home price you're targeting.
- Pick your down payment % goal (20% avoids PMI).
- Add what you've saved so far and what you can put away each month.
- Enter your savings account APY (high-yield accounts pay 4-5% in 2025/26).
What your results mean
Months to goal is when your balance — growing each month with compound interest — hits the target. The estimated date is just months added to today. Total saved includes the interest you earned along the way.
How to save a down payment faster
- Move savings into a high-yield online account (Marcus, Ally, SoFi) earning 4-5% APY.
- Automate transfers the day after payday — you won't miss what you don't see.
- Consider a Roth IRA: first-time buyers can withdraw up to $10k of earnings penalty-free.
- Check 401(k) loan rules — some allow up to 50% of vested balance for a home purchase.
- Don't forget closing costs — save an extra 2-5% on top of the down payment.