Home Down Payment Timeline Calculator
See how long it will take to save your home down payment from what you save each month, with interest on the balance you build.
How it works
Target = price × down% · months = ln[(target·r + m) ÷ (saved·r + m)] ÷ ln(1+r), r = APR ÷ 12
The down payment target is a percentage of the price, and the timeline is how long your monthly saving plus interest takes to close the gap from what you already have. Interest shortens the wait, but for a goal a few years out most of the progress comes from the deposits themselves. Raising the monthly amount cuts the timeline far more sharply than a higher interest rate does.
Worked example
On a $350,000 home, a 20% down payment is $70,000. With $15,000 saved and $1,200 a month at 3%, you close the $55,000 gap in roughly 3 years and 7 months, with interest contributing around $2,500.
Frequently asked questions
How much down payment do I need for a house?
Conventional loans often target 20% to avoid private mortgage insurance, but many programs allow 3%–5% down. A larger down payment lowers your monthly mortgage and total interest, at the cost of a longer saving period.
Does a higher interest rate save much time?
For a goal only a few years away, not much — the deposits do most of the work. Increasing how much you save each month shortens the timeline far more than chasing a higher savings rate.
Where should I hold down-payment savings?
A high-yield savings account or money-market account keeps the money safe and accessible. Because the horizon is short, avoid investments that could lose value right before you buy.
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Educational estimate, not financial advice.