Build the full cash target
For a purchase, the down payment is not the only cash requirement. Closing costs, prepaid property taxes and insurance, inspections, moving, immediate repairs, and a reserve can all affect the amount you need available. The calculator lets you set closing costs and reserve separately instead of assuming they are included in the deposit.
Estimated loan amount
The displayed loan amount is the purchase price minus the down payment only. It does not include financed fees, subordinate financing, grants, or other program adjustments. It also does not calculate monthly payments or private mortgage insurance.
Make the savings pace realistic
The monthly savings result is a simple target based on the number of months entered. It does not model interest earned, changes in savings, investment risk, inflation, price changes, or program assistance. If the result is too high, revisit purchase price, timeline, expenses, or the amount already saved rather than assuming future financing will fill the gap.
Read Down Payment Planning and the $300,000 home example. The CFPB explains how down-payment size affects loan terms.
The calculator does not decide whether a down-payment percentage or source of funds is allowed under a specific loan program. Ask the lender about documentation and current program requirements.