What does this tool do?
A down payment is a fixed share of the purchase price, plus closing costs. This calculator turns the gap between your target and current savings into a monthly plan with an optional savings return.
The Formula
Monthly = (Target − Current savings) × r ÷ ((1 + r)^n − 1), where r = annual return ÷ 12Frequently Asked Questions
Is 20% down required?
Not always. Many loans accept less, but a smaller deposit can mean mortgage insurance and a higher rate.
Should I count investment returns?
Only for a long horizon. For a deposit needed within a few years, cash savings are safer than volatile investments.