Saving to buy

Down payment planner

How long it takes to save for the down payment, closing costs and a cushion, and what you would need to save each month to hit your date.

Use it now →

Live tool

Try it now

Change any number and everything updates. When it looks right, send it to Morgan.

The home

Price you are aiming for

Down payment

Closing costs, % of priceexample — change to yours

Cushion for moving and first repairs

Your savings

Saved so far

You can save per month

Interest your savings earn per yearexample — change to yours

Months you would like it to take

You get there in—

Around—

Your goal—

Still to save—

Per month to hit your date—

An estimate for planning, not an appraisal, a loan offer, or legal, tax or financial advice.

Behind the numbers

How it works

Your goal

Down payment (price × your percentage) + closing costs (price × that percentage) + your cushion.

Months to get there

Each month your savings earn interest at the yearly rate ÷ 12, then your monthly amount is added, until the total reaches the goal.

To hit your date

The monthly amount that reaches the goal in the months you chose: (goal − savings grown for that long) × monthly rate ÷ ((1 + monthly rate)^months − 1).

Adjust it

What each input means

Down payment %	Loan programs differ. A lender can tell you which you qualify for and what mortgage insurance costs under 20%.
Closing costs %	Example only. Your loan estimate gives the real number.
Interest earned	Example only. Use what your savings account actually pays.

When to use it

Made for

A year or more before buying
Comparing 5%, 10% and 20% down
Setting a monthly savings goal

Part of a guided path

Buying

Choose the part of town that fits your life first: golf, trails, dining, space, views. Then be first to the right homes, sent to you personally by Morgan.