How long will it take to save for a downpayment and closing costs?
Coming up with a downpayment is typically the biggest hurdle to achieving the dream of homeownership. Use this calculator to see how long it will take to save for different downpayment amounts. And remember, you don’t have to put 20% down, there are options such as private mortgage insurance that make it possible to purchase a home with as little as a 3% downpayment.
The examples created by the calculators are estimates based on the information you have supplied and are for purposes of illustration only. We recommend that you seek the advice of a professional when buying or financing a loan.