Down Payment Savings Calculator

Find out how long it will take to save for your down payment. Set a target amount, current savings and monthly contribution to see your timeline to homeownership.

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Explore Loan Options
Some programs require as little as 3% down. See what you qualify for.

Saving for a Down Payment

A down payment is typically 3% to 20% of the home price. While 20% avoids PMI, many programs (FHA, VA, USDA, conventional 97) allow lower down payments for qualified buyers.

Down Payment Options

Tips to Save Faster

Automate your savings, reduce discretionary spending, and consider a high-yield savings account (HYSA) or CD to earn more interest on your growing balance.

Disclaimer: This calculator provides estimates only and is not financial advice. Savings rates vary and may change over time.

How Long Will It Take to Save for a Down Payment?

How Much Down Payment Do You Need?

A down payment is typically 3% to 20% of the home price. While 20% avoids PMI, many programs require much less: 3% for Conventional 97 loans, 3.5% for FHA, and 0% for VA and USDA loans.

Tips to Save for a Down Payment Faster

Q: Can I buy a house with no down payment?

A: Yes, VA loans (for veterans) and USDA loans (for rural areas) offer 0% down payment options.

Q: What is the average down payment?

A: First-time buyers average about 7% down, while repeat buyers average around 17%.

Q: Should I wait to save 20%?

A: Not necessarily. Buying sooner with PMI may beat waiting, especially if home prices are rising. Compare the costs carefully.

Calculate Your Timeline Now →