Down Payment Savings Calculator: How Long to Save for a House
By the CallARealtor team · Published November 3, 2026 · Updated November 3, 2026
When can you afford the down payment?
Example numbers are filled in. Change any of them and results update instantly.
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CallARealtor is an independent information site, not a real estate brokerage or lender, and is not affiliated with the National Association of REALTORS®. Results are estimates for planning, not loan offers or financial advice.
How the savings goal is built
We add your down payment, estimated closing costs and a cushion for moving and emergencies. Then we add your monthly savings plus monthly compounded interest until you reach the goal.
Assumptions and help
- Closing costs and the savings rate are examples. Get a Loan Estimate for real numbers.
- Under 20% down, conventional loans usually require PMI. Some government-backed loans allow smaller down payments with their own insurance costs.
- State and local down payment assistance programs exist in many areas. A HUD-approved housing counselor can tell you what you may qualify for.
Frequently asked questions
Do I need 20% down to buy a house?
No. Many loans allow much less, but under 20% down on a conventional loan you will usually pay PMI. Compare the monthly cost in our mortgage calculator.
Should I include closing costs in my savings goal?
Yes. Closing costs are paid separately from the down payment unless you negotiate credits.
Where can I find down payment assistance?
Start with your state housing finance agency and a HUD-approved housing counselor.