Just your income and debts to get started — everything else on this calculator is yours to adjust below. Anything you've already told the Home, Car, or Budget calculator is filled in for you automatically.
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How this calculator works
"How much do I need to save for a house?" has three honest answers, because there are three common ways to finance one. This calculator runs your target price through all of them at once — conventional with 20% down (no mortgage insurance), conventional with 10% down (temporary PMI), and FHA with 3.5% down (mortgage insurance for the life of the loan) — and tells you which path gets you into the house soonest, and what it costs you every month once you're in.
Each program has two limits, and you hit whichever comes first.
At 3.5% down, the cash needed is roughly a fifth of the 20%-down amount, so FHA is almost always the fastest path in. The price is FHA's mortgage insurance premium, charged for the life of the loan at that down payment — it only disappears when you refinance or sell. Conventional PMI at 10% down costs more per month at first but cancels itself once you reach 20% equity. The program cards show the estimated payment under each, and the PMI guide explains the removal rules in detail.
The "best path" is the reachable program with the shortest time to goal. If every program is income-capped, the calculator says so plainly and the suggestions shift to what actually moves that ceiling.
Enough to qualify, yes — FHA allows it with a 580+ credit score. Whether it's enough for you is the question the report card asks: a smaller down payment means a bigger loan, a higher payment, and mortgage insurance you can't cancel. Run your real numbers through the Home Affordability calculator once you have a target.
Over two or three years, 4% versus 0.5% on a growing balance is worth a few months of contributions. Most big banks pay near zero; online high-yield savings accounts routinely pay 4%+. The rate is editable, so use whatever yours actually pays.
Lender fees, title, escrow, prepaid taxes and insurance — typically 2–5% of the price, paid on top of the down payment. 3% is a middle estimate; the closing-costs guide breaks down every line on the disclosure so you can tighten it.
Add gift money to your current savings. Down payment assistance programs vary by state and city — there are thousands — and the first-time buyer guide explains how to find the ones you'd qualify for, which can shorten every path here.
Last reviewed September 2026. Read our methodology for every source and assumption, and the calculator disclaimers for what these estimates are and aren't.