Down Payment Calculator
Calculate how much to save for a home down payment and create a timeline to reach your goal.
$
20%
5%30%
$
Amount already saved toward your down payment
$
4%
0%6%
Down Payment Needed
$80,000
20% of $400,000
Amount Remaining
$60,000
Time to Reach Goal
3 yr 1 mo
Target: May 2029
Savings Growth Toward Down Payment
Frequently Asked Questions
How much do I need for a down payment?
It depends on the market. In the US, you can put down as little as 3-5% with some loans, though 20% avoids PMI. In the UAE, expats typically need 20-25% down for a mortgage.
Where should I save for a down payment?
For a down payment you'll need within 1-3 years, use a high-yield savings account or short-term CDs. Avoid stocks for short-term goals due to market volatility. For 5+ year timelines, a conservative investment mix may be appropriate.
Does a larger down payment reduce my mortgage payment?
Yes, significantly. A larger down payment reduces your loan amount, which lowers both your monthly payment and total interest paid. It may also help you qualify for a better interest rate.
Track your down payment savings with Wealthi
Related Calculators
Mortgage
Calculate your monthly mortgage payment, total interest, and view a full amortization schedule.
Home Affordability
Find out how much house you can afford based on your income, debts, down payment, and current interest rates.
Savings Goal
Find out how much you need to save each month to reach your financial goal by your target date.