How much do I need to save to buy my first home?

Add your down payment and your closing costs. That total is your cash to buy. Subtract what you already have saved, then divide what is left by the months until you want to buy. That is your monthly save. Example with hypothetical numbers: a $300,000 home with 10% down ($30,000) and 3% closing costs ($9,000) needs $39,000. With $10,000 saved, $29,000 is left. Over 36 months that is about $806 a month.

How long will it take to save for a house?

Divide the amount you still need by what you can save each month. Using the hypothetical example above, $29,000 left at $800 a month takes about 37 months. Switch the calculator to Monthly save to see your own month on the chart.

Your down payment plus closing costs, the cash you bring to buy the home. This calculator counts those two. Other costs like moving or an inspection are not included, so leave some room for them.

Why are closing costs an estimate?

Closing costs change with your lender, your loan, and where you buy. The 3% here is a starting assumption you can change. Once you apply, your lender's Loan Estimate lists the real amounts.

No. 10% is the starting number here, not a rule. Loan programs set their own minimums and costs, so ask your lender what your loan needs and change the percent to match.

What is the difference between target date and monthly save?

Target date: pick when you want to buy and see what to save each month. Monthly save: enter what you can save and see the month you reach your number. Both use the same cash to buy.

Is this financial advice?

No. It is an educational estimate. Your lender and loan program set the real numbers.

First Home Calculator: Cash to Buy and Monthly Save

Your first home number

Monthly save

$806/mo

25% of $39K · October 2029

How do you want to plan?

Pick when you want to buy to see what to save each month.

Home price

Down payment

$30,000 at this price. 10% is a starting point to change, not a rule.

Closing costs (estimate)

An estimate: $9,000 at this price. Your lender's Loan Estimate lists the real closing costs.

Current savings

Target date

Months until your target date

Save · On track

First home

Your monthly save

$806/mo

Due October 2029. About 36 months at this monthly save.

Saved so far25%

Cash to buy$39,000

Down payment: $30,000
Closing (estimate): $9,000

On a $300,000 home.

Save your results

Your path to the keys

House fund

Saving $806 a month from $10,000, the house fund reaches $39,000 in October 2029.

Check the price your income fits Track it as a savings goal

Cash to buy is your down payment plus estimated closing costs. Cash savings only, no interest or growth added. The starting numbers are a hypothetical example. Education only, not financial advice.

The details behind your number

Where your number comes from

Down payment: $30,000; 10% of $300,000
Closing costs (estimate): $9,000; 3% of $300,000
Amount left: $29,000; Cash to buy minus $10,000 saved
Target date: October 2029

Where to keep the house fund while it grows

Money you plan to spend on a home in the next few years usually sits somewhere steady and easy to reach, so a market drop can't shrink it right before you buy.

Learn how a high-yield savings account works, and keep the house fund apart from your spending money.
See what interest could add over time with the compound interest calculator.
Plan the fund month by month with the savings goal calculator, and check the price your income supports with the home affordability calculator.

Why a number beats an age

Chase Your Number, Not an Age

An age is someone else's average. Your number is the cash to buy the home you want, and you can work it out today with the calculator above.

Your next step

Same numbers, different next move

Two people can get this exact result and need totally different first steps. Your Money Type tells you which one is yours.

Find my Money TypeFree, about 2 minutes

Already know yours?

How It Works

01
Enter the home price, your down payment percent, and an estimate for closing costs.
02
Add what you have saved, then pick a target date or the amount you can save each month.
03
See your cash to buy, your monthly save, and the month you get there on a live chart.

The 4 Money Types

The Math Is the Same. Your Next Move Isn't.

Spenders, Savers, Scramblers, and Strategists each need a different first fix. The free quiz tells you which type you are, so you know what to do with this number.

Find My Money Type

Common questions

: Add your down payment and your closing costs. That total is your cash to buy. Subtract what you already have saved, then divide what is left by the months until you want to buy. That is your monthly save. Example with hypothetical numbers: a $300,000 home with 10% down ($30,000) and 3% closing costs ($9,000) needs $39,000. With $10,000 saved, $29,000 is left. Over 36 months that is about $806 a month.
: Divide the amount you still need by what you can save each month. Using the hypothetical example above, $29,000 left at $800 a month takes about 37 months. Switch the calculator to Monthly save to see your own month on the chart.
: Your down payment plus closing costs, the cash you bring to buy the home. This calculator counts those two. Other costs like moving or an inspection are not included, so leave some room for them.
: Closing costs change with your lender, your loan, and where you buy. The 3% here is a starting assumption you can change. Once you apply, your lender's Loan Estimate lists the real amounts.
: No. 10% is the starting number here, not a rule. Loan programs set their own minimums and costs, so ask your lender what your loan needs and change the percent to match.
: Money you plan to use within a few years usually sits somewhere steady and easy to reach, like a high-yield savings account, so a market drop can't shrink it right before you buy. This calculator counts cash only and adds no interest. Use the compound interest calculator to see what interest could add.
: Target date: pick when you want to buy and see what to save each month. Monthly save: enter what you can save and see the month you reach your number. Both use the same cash to buy.
: No. It is an educational estimate. Your lender and loan program set the real numbers.

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