Property equity
Down payment
Down Payment Savings Calculator
Use the down payment savings calculator to estimate full purchase cash and the monthly amount needed to reach it on schedule.
Down payment and cash target
Keep equity, transaction cash and the reserve separate so the same dollars is not counted twice.
Enter your figures, then press “Build the purchase-cash stack” to calculate your result.
No result yetComplete the fields and use the calculation button.
What the down payment calculator includes
This calculator estimates the total cash needed for a home purchase by adding the down payment, a closing-cost allowance and the reserve you want to keep after closing. It then calculates the monthly saving needed after subtracting money already saved.
- Closing costs vary by location, loan and transaction.
- Keeping a reserve can reduce the risk of becoming house-rich and cash-poor.
- Compare several down-payment percentages rather than treating 20% as a universal rule.
How the home purchase cash target is calculated
The down payment equals the target home price multiplied by the entered percentage. The closing allowance uses its own percentage of the price. Those amounts are added to the post-closing reserve, then current savings are subtracted. The remaining gap is divided by the number of months until purchase.
The closing-cost percentage is an allowance, not a quote. Lender charges, title or legal services, taxes, insurance prepayments and local transaction costs vary. Replace the percentage with a more informed allowance as written estimates become available.
Give every dollar one job
The total is reliable only when the same cash is not counted in two layers.
Transaction
Closing allowance
Household protection
Post-closing reserve
Compare down payments without spending the reserve
Run the same home price at several down-payment percentages. For each version, compare total cash required, likely mortgage balance, mortgage insurance, quoted rate and cash remaining after the transaction. A larger down payment can reduce borrowing but may be unsafe if it removes the liquidity needed for repairs or an income disruption.
A 20 percent down payment is not a universal requirement. The appropriate choice depends on available loan terms, insurance costs, assistance conditions and household resilience. Use matched written quotes rather than assuming one percentage always wins.
- Keep earnest money and other deposits in the cash record
- Add moving, inspection and immediate work separately
- Document gifts, grants and asset sales before relying on them
Treat the monthly amount as a feasibility test
If the monthly saving requirement is higher than reliable cash flow, the plan needs a different price, date or down payment. Reducing the post-closing reserve should not be the automatic first response. A purchase date with no margin can turn an ordinary closing change into new debt.
Common questions about this calculator
Do I always need a 20 percent down payment?
No. Available loan options vary, and a smaller down payment may preserve cash. Compare mortgage insurance, monthly cost, closing cash and the reserve left afterward.
Are closing costs part of the down payment?
No. They are separate transaction costs. The planner includes an allowance so the savings target is not limited to the down payment alone.