Online Help for Real Estate Calculator Suite  :  Table of Contents

Down Payment Savings Calculator

The Down Payment Savings Calculators in Real Estate Calculator Suite give you two ways to consider your down payment savings.  The two approaches to saving for a down payment are to compute how much you can save during a specific period of time or to compute how long it will take to meet a specific down payment savings goal.

How Much Can I Save?

How much can I save

The "How Much Can I Save?" Calculator helps you determine how much you will be able to save during a specific period of time.  For example, if you know you want to purchase a home in 36 months and can save $400 per month, this calculator will show you have much you will have available for your down payment when you are ready in 36 months to buy your new home.

To calculate how much you will save during a specific period of time, choose the "How Much Can I Save?" Calculator by clicking on the tab labeled "How Much Can I Save?".

Enter appropriate values for the fields labeled "Your Current Savings Balance", "Amount You Will Save Each Month", "Interest Rate Your Savings Will Earn", "Number of Months You Will Save", and choose the Compounding Frequency from the drop down list.

As you enter your values and tab from field to field, the amount of money you will be able to save for a down payment during the number of months you will save will be computed and displayed as "Your Down Payment Savings."

How Long Will It Take?

how long will it take to save

The "How Long Will it Take?" Calculator shows you how much time it will take you to save a specific amount for your down payment.  Use this calculator if you know how much you need and how much you can afford to save each month.  It will compute the amount of time required to meet your savings goal.

If you have a specific down payment savings goal and want to calculate how much time it will take to save the amount you need, choose the "How Long Will it Take?" Calculator.

To determine how long it will take to save your down payment, enter your values for the fields labeled "Your Down Payment Savings Goal", "Your Current Savings Balance", "Amount You Will Save Each Month", "Interest Rate Your Savings Will Earn", and choose the Compounding Frequency from the drop down list.  The number of months required to meet your goal will be computed and displayed above the amount of your savings goal.

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