- Purchase price of home
- The total cost of the home you would like to purchase. Please keep in mind that the cost of buying a house is more than just the price of the house; there are fees associated with your mortgage which you will be provided once you are ready to buy. For budgeting purposes, you should assume total fees equal approximately 1% of your loan.
- Estimated Down payment
- Typically down payments range from 5-20% of the purchase price.
- Amount currently saved
- Total you currently have saved for your new home.
- Years to save
- The number of years you wish to save.
- Estimated Interest Rate on your savings account
- This is the interest rate you are currently earning on your savings account. For the purposes of this calculator, taxation is not factored into the results.
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