First Home Buyer Calculator
Updated on 22 Oct 2026 · Checked by Aotob
With no first-home grant, saving $5,000 a year for 4 years gives a deposit of $20,000.
That’s 5% of a $400,000 home.
Your deposit
$20,000
No federal grant, but FHA loans need 3.5% down and many states and cities offer grants or 0% second loans. Up to $10,000 can come out of an IRA penalty-free for a first home.
Show the working
5,000 × 4 = 20,000 saved
+ 0 from Down payment assistance = 20,000
By years saving
| Years | Saved | Help | Deposit |
|---|---|---|---|
| 1 | 5,000 | 0 | 5,000 |
| 2 | 10,000 | 0 | 10,000 |
| 3 | 15,000 | 0 | 15,000 |
| 4 | 20,000 | 0 | 20,000 |
| 5 | 25,000 | 0 | 25,000 |
| 6 | 30,000 | 0 | 30,000 |
Questions people ask
What help is there for first-time buyers?
UK: Lifetime ISA 25% bonus. Canada: FHSA tax deduction and tax-free withdrawal. Australia: First Home Super Saver and the 5% Deposit Scheme. Ireland: Help to Buy up to €30,000 on new builds. New Zealand: KiwiSaver withdrawal. US: state and local down payment programs.
Can I combine schemes?
Often: in Canada an FHSA and the RRSP Home Buyers’ Plan; in Australia FHSS and the 5% Deposit Scheme; in the UK a Lifetime ISA with Shared Ownership.
Are there price limits?
Yes: £450,000 for a Lifetime ISA, €500,000 for Help to Buy, and state caps for Australia’s schemes.
Updated 22 Oct 2026Source: Published government rules and typical costs, checked October 2026Checked by AotobMain national schemes only; eligibility rules apply.Report an issue