Calculate a purchase cash target, including an editable closing-cost allowance and savings already set aside.
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0.01 – 10000000000
0 – 100
0 – 100
0 – 10000000000
Additional cash to save
$42,000.00
Closing costs are an allowance you choose. This excludes reserves, moving costs and lender-specific requirements.
Down payment = 400000 × 20%.
Cash target = down payment + 3% closing-cost allowance.
Down payment = price × target percentage. Cash target = down payment + closing-cost allowance. Additional savings = the positive difference between that target and savings allocated to the purchase.
A $400,000 home at 20% down requires $80,000. A 3% closing allowance adds $12,000; with $50,000 saved, the remaining target is $42,000.
No. The down payment reduces the amount borrowed. Closing costs, reserves and moving expenses are separate; enter an allowance appropriate to your transaction.
Last updated . Results are estimates for informational purposes only.