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ZOVATOOL

Down Payment Calculator

Down payment goal
$80,000.00
Time to save
3.3 yrs
Still need
$65,000.00

Cost of waiting (home price growth)

Price when saved$440,676.99
Down payment needed then$88,135.40
Extra to save$8,135.40
20% down (PMI-free)$80,000.00
10% down (conventional)$40,000.00
3.5% down (FHA min)$14,000.00

How to use the Down Payment Calculator

  1. Enter target home price and target down-payment percent.
  2. Enter what you have saved, monthly savings and savings APY.
  3. Enter expected home appreciation to see the cost of waiting.
  4. Compare 20% (PMI-free), 10% (conventional) and 3.5% (FHA) options.
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20% down isn't magic — it's just PMI-free

PMI on a 10% down loan costs 0.5–1.5% of the loan per year. On a $400k home that's $200–500/month vanishing until you hit 20% equity.

If home prices grow 5% a year and your savings grow 4%, waiting to save 20% actually loses money vs buying at 10% down today.

First-time-buyer programs (FHA 3.5%, VA 0%, USDA 0%) can beat waiting five years. Run the numbers — waiting isn't always right.