House Down Payment Calculator
Determine your down payment goal based on home price, loan type, and timeline. See how much you need to save monthly to reach your target.
Savings Goal Calculator
How It Works
Conventional loans typically require 5-20% down payment
FHA loans allow 3.5% down but require mortgage insurance
20% down avoids PMI (private mortgage insurance) and gets better rates
Factor in closing costs (2-5% of home price) on top of down payment
Frequently Asked Questions
How much down payment do I need for a house?
Conventional loans: 5-20%. FHA loans: 3.5%. VA loans: 0% for eligible veterans. 20% down is ideal to avoid PMI and get the best rates.
How long does it take to save for a house?
Depends on your income, expenses, and target down payment. Saving $80,000 (20% on $400k home) at $1,500/month takes about 4.5 years. Increase savings rate or reduce timeline by choosing a lower down payment option.
Should I save for 20% down or buy now with less?
20% down saves thousands in PMI and interest. But waiting 3-5 years means paying rent and potentially missing home price appreciation. Run the numbers: if rent is high and prices are rising, buying sooner with 10% down may make more sense.