PFCHow to use this calculator
Plan the cash you want available before buying a home, including a down payment, estimated closing costs, and reserves you intend to retain.
- Review the example inputs and replace them with the figures for your scenario.
- Check the assumptions and select Calculate to view the estimate.
- Compare a second scenario or open the breakdown and download the full CSV.
Illustrative example
With the example inputs, cash target for your purchase is $102,000.00. Adds down payment, estimated closing costs, and reserves. Savings earn no interest in this model. Home price stays fixed; the result is not loan approval or an exact cash-to-close quote.
These example values are for explanation. They are not current market quotes or personalized recommendations.
Calculation method
Cash target equals price × down-payment percentage plus price × closing-cost percentage plus reserves. Months to save equal the savings gap divided by monthly savings, rounded up.
Assumptions and limitations
No interest, changing home prices, assistance programs, credits, prepaid escrow adjustments, or loan qualification. Reserves are cash retained after closing, not an additional lender charge. Do not count the same dollars twice.
Down payment calculator FAQs
Choose a question to read the answer, then try your own numbers in the free calculator.
Do I always need a 20% down payment?
No. Loan programs and borrower eligibility differ. Enter a target that fits the scenario you want to explore; this tool does not choose a program.
Are closing costs part of the down payment?
They are separate here. The result adds both and then adds the reserves you want to keep.
What if I am not saving monthly?
The cash gap still appears, but the tool cannot estimate a completion date unless the gap is already zero.
Is this calculator free?
Yes. You can calculate and download the breakdown without creating an account.
Are my numbers saved?
The app sends inputs to its calculation API to produce the result, but does not save them in an app database or browser storage.
PFC provides mathematical planning estimates. Tax and retirement rules in these tools are for 2026 and do not update automatically. Check the cited sources and the terms that apply to your situation.