How much do you need to save each month for a home?

Put in the price and how soon you want the keys: the calculator adds the down payment and the closing costs and tells you what to set aside each month, between the two of you.

// the home

Home price in dollars

Down payment: 20% · $40,000Closing costs: 3% · $6,000

Both percentages are only examples to start from. Closing costs vary a lot from place to place and from loan to loan: replace them with your own estimates.

// how soon

Or enter the number of monthsWhat you've already saved for this

// to get the keys$46,000down payment $40,000 + closing costs $6,000

// a month, between you$1,278for 3 years · you still need $46,000

// how much each puts in

// blue's income

// orange's income

Put in both incomes and you'll see how much each of you saves, in proportion to what you earn.

// timeframes compared

Timeframe	A month, together
2 years24 months	$1,917
3 years36 months	$1,278
4 years48 months	$958
5 years60 months	$767

// how to set it up

Give this saving a name (“the home fund”) and keep it separate from everyday money.
Schedule the transfer for payday, before you spend: $1,278 a month between you.
Review it every six months: if the price or an income changes, calculate it again.

// your plan by email

Want us to email you your plan?

It comes with your numbers and a link back here, with everything just as you left it.