How to use the Down Payment Calculator
The down payment calculator shows how much to put down and how much to save each month to reach it.
Open the Down Payment Calculator →
What you need to enter
- Home price ($)
- Down payment (%)
- Already saved ($)
- Months to save
The formula
Down payment = price × percent. Monthly saving = (down payment − saved) ÷ months.
Worked example
Using the default values in the calculator:
- Home price ($): 350000
- Down payment (%): 20
- Already saved ($): 15000
- Months to save: 36
| Down payment needed | $70,000.00 |
| Loan amount | $280,000.00 |
| Still to save | $55,000.00 |
| Monthly saving needed | $1,527.78 |
Tips for better results
- 20% avoids mortgage insurance on many conventional loans.
- Look at assistance programs.
Common mistakes to avoid
- Forgetting closing costs.
- Draining your emergency fund.
Please note: Calculators and guides give general estimates, not financial, tax or investment advice. Real offers depend on your lender, location and personal situation. See our Disclaimer.