Saving for a down payment is one of the most common multi-year goals, and most calculators stop at "target ÷ months." Real planning has to account for the HYSA you actually hold the cash in, the contributions you can actually make, and what happens to the timeline when either number changes.
Set the home price and down-payment percent, choose your bank (or type the APY), enter what you can save monthly, and the planner returns the close date, the gap if you fall short, and the contribution change needed to hit a specific date. Pair with the Home Buy Calculator for total cost of ownership once the target lands.
What you can do
- Target solver — set the date or the contribution; we compute the other
- HYSA APY field with sensible defaults for common high-yield banks
- Monthly contribution glide path with optional one-time deposits
- Linked to the same savings engine as the rest of the Budget Suite
- Save and share scenarios with a partner
Frequently asked questions
What down-payment percent should I aim for?
Conventional loans typically expect 20% to avoid PMI (private mortgage insurance); FHA can go as low as 3.5% with mortgage insurance; VA loans can be 0% for eligible buyers. The planner just takes whatever percent you pick — pair with the Home Buy Calculator to see how the chosen percent flows into the monthly payment and total interest.
How does the HYSA APY affect the timeline?
For a one- to three-year save, the APY moves the date by weeks, not months — the dominant lever is your monthly contribution. The field is there so the projection matches what your actual savings account does; for longer horizons (4+ years) the compounding starts to matter.
Do I need to create an account?
No. The planner works without signing in. If you want to save scenarios or share them, sign-in is free with Google or email.
Ready to plan?
The Home Down Payment Planner runs entirely in your browser. Free, no sign-up required to use it.
Related calculators
Other tools that pair well with the Home Down Payment Planner. They cross suites because life does.