How Long to Save a Down Payment for a $500,000 Home?
See how many months it takes to save a 20% down payment ($100,000) on a $500,000 home based on your current savings and monthly contributions.
How to use this tool
- Enter target home price, down payment target, current savings toward down payment, monthly savings contribution and savings account rate in the fields above.
- Results update instantly as you type — or click Calculate.
- Read your months to goal and the full breakdown beneath it.
Use this calculator to find out exactly how long it will take to save a $100,000 down payment for a $500,000 home given your current savings rate and account yield.
Frequently asked questions
- How much do I need for a down payment?
- Conventional loans typically require 5–20% down. Putting 20% down avoids PMI and gives you more equity from day one. FHA loans require 3.5% but add mortgage insurance. Some first-time buyer programs allow 0–3% down.
- Where should I keep my down payment savings?
- Keep the funds in a high-yield savings account or money market — FDIC insured, liquid, and earning interest. Avoid investing in stocks for a near-term goal, as market volatility could delay your timeline.