Down Payment Savings Calculator
How long it takes to save your target down payment.
Enter your values
ⓘ Live results
Results
- Months to reach goal
- 37
- Years to reach goal
- 3.1
- Total contributed
- $44,400.00
- Interest earned
- $4,342.95
Quick answer
Time to reach your goal depends on your target amount, what you've already saved, your monthly contribution and any interest earned on savings.
Months = time to grow current savings plus contributions to target, compounding monthly
How to use the Down Payment Savings Calculator
- 1Enter your down payment goal and current savings.
- 2Enter your planned monthly contribution.
- 3Include a savings interest rate if using a high-yield account.
Worked example
Using the values the calculator loads with:
Inputs
- Down payment goal60000 $
- Current savings12000 $
- Monthly savings contribution1200 $
- Annual interest on savings4 %
Results
- Months to reach goal37
- Years to reach goal3.1
- Total contributed$44,400.00
- Interest earned$4,342.95
Frequently asked questions
Should I invest my down payment savings?
For a near-term goal, a high-yield savings account or short-term CDs are usually safer than the stock market.
Does this include closing costs?
No — add your estimated closing costs to the target if you need cash for both at once.
About this calculator
- Built and reviewed by James Whitfield · How we build and test calculators
- Report an error
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.