How much down payment do I need?

While 20% avoids PMI, many loan programs accept 3-5% down. FHA loans require as little as 3.5% for qualified buyers.

Should I wait to put 20% down?

It depends on your market. If home prices are rising fast, buying sooner with a smaller down payment might be better. Weigh PMI cost against potential appreciation.

What are closing costs?

Closing costs typically run 2-5% of the purchase price and cover appraisal, title insurance, origination fees, and other expenses.

Where should I keep my down payment savings?

High-yield savings accounts or short-term CDs are ideal. Keep funds liquid and avoid market risk since you will need the money at a specific time.

How much down payment do I need?

While 20% avoids PMI, many loan programs accept 3-5% down. FHA loans require as little as 3.5% for qualified buyers.

Should I wait to put 20% down?

It depends on your market. If home prices are rising fast, buying sooner with a smaller down payment might be better. Weigh PMI cost against potential appreciation.

What are closing costs?

Closing costs typically run 2-5% of the purchase price and cover appraisal, title insurance, origination fees, and other expenses.

Where should I keep my down payment savings?

High-yield savings accounts or short-term CDs are ideal. Keep funds liquid and avoid market risk since you will need the money at a specific time.

Educational Tool — Estimates for educational purposes only. Not financial advice.Disclaimer

Saving for a down payment is often the biggest hurdle to homeownership. This calculator helps you determine how much you need and creates a savings plan to get there.

Down Payment Calculator

Calculate how much you need to save for a home down payment.

February 2026 (HUD data)

Target Home Price

Down Payment %

Current Savings

Monthly Savings

Your Results

Down Payment Needed

$70,000.00

Remaining to Save

55,000

Months to Goal

3 yr 1 mo

Est. Closing Costs

$10,500.00

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AI Disclosure

Wally's Analysis uses GPT-4o-mini for educational interpretations. AI responses are not personalized financial advice and may be inaccurate. All core calculations are deterministic — AI only interprets results.AI Transparency →

Accuracy Commitment

Industry-standard formulas vetted against IRS, SSA, BLS, CFPB. Client-side calculations. Regularly updated.

This calculator provides estimates for informational purposes only and does not constitute financial, tax, or legal advice. Consult a licensed professional before making financial decisions.

Updated: February 2026 (HUD data) · Methodology

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