Down Payment Savings Goal

How much do you need to save each month?

Down payment goal

Years until purchase

Already saved

Expected return

% APY

Save this much each month

$1,634

Save $1,634/month for 3 years at 4.5% APY (plus your existing $15,000) and you’ll hit $80,000.

Save monthly

$1,634

for 36 months

Already saved (FV)

$17,164

$15,000 grown at 4.5%

Total contributed

$58,808

principal you put in

Interest earned

$6,192

at 4.5% APY

Final balance

$80,000

at year 3

Balance trajectory

With 4.5% return No interest (cash)

Where to keep down-payment money: high-yield savings (Marcus, Ally, Wealthfront cash) at 4-5% APY is the standard. CDs lock the rate in but trap funds until maturity. Treasury bills (TreasuryDirect) are similar yields, federal-only tax, but require manual rolls. Stocks: only if your timeline is 5+ years — otherwise you risk being a forced seller in a down market right when you need the cash.