Down Payment Goal Calculator

About this calculator

This calculator helps you plan your home purchase savings by computing the exact dollar target for your chosen down payment percentage, then subtracting what you've already saved to find the remaining gap. It divides that gap by your monthly contribution to give you the number of months until you hit the goal, along with an estimated calendar date. A progress bar shows how far along you already are. If you plan to put down less than 20%, a PMI note is shown as a reminder that private mortgage insurance will likely be required.

Field explanations

Target home price

The purchase price of the home you're saving for. The down payment goal is calculated as a percentage of this amount.

Down payment percentage

The share of the purchase price you want to pay upfront. Common targets are 3.5% (FHA minimum), 5% (conventional low-down), 10%, and 20% (the threshold to avoid PMI). Use the preset buttons or type a custom value.

Current savings

The amount you've already set aside specifically for this down payment. This is subtracted from the goal to find what's still needed.

Monthly contribution

How much you plan to add to your down payment fund each month. The timeline is calculated by dividing the remaining amount by this figure.