Down Payment Savings Timeline

Plan when you'll have enough saved for a down payment, or how much you need to contribute monthly to hit your goal.

Target home price

Down payment goal

Already saved

Monthly savings

Expected return

On savings invested in HISA / FHSA / TBills

Target time horizon (yrs)

Time to reach down payment

7.1 yrs

85 months at $1,200/mo

Down payment target$140,000

Already saved$15,000

Still need$125,000

Projected savings in 5 yrs$99,352

To hit goal in 5 yrs, save$1,805/mo

The FHSA is usually the best home for these savings — up to $8,000/year and $40,000 lifetime in contributions, tax-deductible going in and tax-free coming out for a qualifying home purchase.

The information presented on HousingPortal.ca is intended for general illustrative purposes only. While the information is believed to be reliable, it cannot be guaranteed for accuracy, completeness, or currency. Neither HousingPortal.ca and its employees, nor any other party identified in this guide/report, assumes any liability for the information provided. The views and opinions expressed by the analysts at HousingPortal.ca are their own and should not be considered as investment advice. It is recommended that you seek the advice of a licensed real estate professional before making any decisions regarding real estate investments.