Down payment calculator
Set the home price, down payment share and what you have saved so far to get your savings target and how long it takes at a fixed monthly amount.
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Processing and privacy: The result is calculated inside your browser and your data is not sent to any server.
How to use it
- Enter home price, down payment share, buying costs of price, current savings and monthly saving.
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Down payment = price x share. Cash needed = down payment + price x buying costs share. Remaining = cash needed - savings. Months = remaining / monthly saving, rounded up.
Example
Inputs: Home price = 1,000,000, Down payment share = 20 %, Buying costs of price = 5 %, Current savings = 100,000, Monthly saving = 10,000. Result: Down payment: 200,000.00; Cash needed with costs: 250,000.00; Loan amount: 800,000.00.
Limits and caveats
- Ignores returns on savings and home price changes while you save.
- The minimum down payment is set by your lender and local regulator.
Questions about this tool
How big should the down payment be?
It depends on the country, lender and buyer type, so enter the share your bank asks for.
What are buying costs?
Transfer, registration, agent and valuation fees, usually paid in cash on top of the down payment.
Is a bigger down payment always better?
It lowers the loan, payment and interest, but leaves you less cash for emergencies.