Savings Calculator

Down Payment Calculator

Find out how much you need to save for a down payment and when you'll reach your goal.

Your Home & Savings

Enter your home buying goals

Home Purchase

Your Savings

High-yield savings accounts offer 4-5% APY

How Much Down Payment Do You Need?

The down payment is one of the largest upfront costs when buying a home. While the traditional 20% down payment helps you avoid private mortgage insurance (PMI), many loan programs allow much lower down payments.

Down Payment Requirements by Loan Type

  • Conventional: As low as 3% for first-time buyers, 5% standard
  • FHA: 3.5% minimum with 580+ credit score
  • VA: 0% down for eligible veterans and service members
  • USDA: 0% down for rural property purchases
  • Jumbo: Typically 10-20% minimum for loans over conforming limits