Tell us about your savings goal

We'll calculate how much you need to save each month.

Total cash needed at closing ($):

Current savings balance ($):

Annual savings interest rate (%):

How long until purchase:

Time period:

Years Months

Results

Complete the fields above to determine how much you would need to save each month in order to reach a specific savings goal. TAB or mouse-click between fields as you enter data, then click the "Calculate" button.

How accurate is this calculator?

This calculator computes the monthly savings amount required to reach your goal using compound-interest math. If you select "Years," it compounds annually; if you select "Months," it compounds monthly. The current savings balance grows at the same rate over the time horizon, and the calculator solves for the additional monthly contribution needed to fill the remaining gap. Real account growth depends on your bank's actual APY, which can change over time. Use this for goal-setting and adjust as your account terms change.

Want to know how we come up with our numbers? Read how our estimates compare to verified lender quotes →

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