finance calculator
Plan savings needed for a home down payment.
Return when your target home price, savings balance, or monthly savings amount changes.
Total cash needed
$92,000
Formula
Total needed = home price x down payment % + home price x closing cost %The calculator estimates the cash needed before purchase and compares it with current savings and monthly savings capacity.
Step by step
Example
A $400,000 home with 20% down and 3% closing costs requires about $92,000 before current savings are applied.
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Summary
Total cash needed
$92,000
Down payment plus estimated closing costs.
Savings gap
$47,000
Remaining cash goal.
Months to goal
19 months
Based on current monthly savings.
Current savings
$45,000
Savings already counted toward the goal.
D3 visualization
Separate the target down payment from estimated closing costs.
D3 visualization
A projected savings path toward the total cash needed for purchase.
Guide
The down payment calculator estimates how much cash you may need before buying a home. It combines the target down payment with estimated closing costs, then subtracts current savings to show the remaining gap.
It also estimates how many months it may take to reach the goal based on monthly savings. This helps turn a large home-buying number into a practical monthly plan.
Enter the target home price, down payment percentage, closing cost percentage, current savings, and monthly savings. Review total cash needed, savings gap, and months to goal.
Test different home prices or down payment targets to see how the timeline changes. A lower target price or higher monthly savings amount can shorten the timeline significantly.
Down payment equals home price multiplied by the down payment percentage. Closing costs equal home price multiplied by the closing cost percentage. Total needed equals both amounts combined.
Savings gap equals total needed minus current savings. Months to goal equals the gap divided by monthly savings, rounded up to the next month.
Closing costs vary by location, lender, loan type, prepaid taxes, insurance, title fees, and credits. Use a realistic estimate and update it once you receive lender disclosures.
Do not drain all savings if it would leave no emergency fund after closing. Homeownership can add repairs, moving costs, utilities, and furnishings soon after purchase.
Closing costs
Fees and prepaid costs due around the time a home purchase closes.
Savings gap
The remaining cash needed after current savings are counted.
Cash reserve
Money kept after closing for emergencies, repairs, and moving costs.
Yes. Enter a closing cost percentage and the calculator adds it to the down payment goal.
No. Some loan programs allow lower down payments, but lower down payments can affect PMI, fees, or approval terms.
The calculator can show the gap, but it cannot estimate a timeline until a monthly savings amount is entered.