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Future Value Calculator

Using a future value calculator can help you figure out how long it'll take to save enough money for the down payment on your new home. With a little planning you can chart out your path to home ownership. 

Another cool thing about this future value calculator, it takes into account how much your savings/investment account will be worth in the future by considering the rate of inflation and taxes. Go ahead and play around with it, figure how much you can save each month and see for yourself. 

Look at this as an investment account. Here's where you're going to put away money that you will not touch. So you may want to consider an investment account or some kind of an account that can yield the greatest return on your money in a safe way. I do not recommend high risk accounts.

The first box in the calculator wants you to put in what you already have saved. So this is your initial investment. Enter that into the top box.

Next, you want to figure out how much can you save each money without really stretching your budget too far. Put that figure in the second box. 

Be reasonable, but whatever you do, put in an amount that you can commit to over the long haul. After all, when you buy a house you're going to have to get into the practice making that monthly payment. 

Future Value Calculator

Now in the third box, here you put your annual interest rate, or if you're looking at saving money by using a financial planner, how much can you reasonably expect to get as a rate of return on your investment each year. This figure could be as low as .5% (savings account really stink as of this writing in April of 2015) or as high as 8%-10% depending how well your investments do. 

OK, let's put in the number of years you think it will take in the fourth box. Can you see how were working with the future value calculator helps to determine your needs?

In the fifth box, we will put in your combined state and federal tax rate. This could be around 15% or more depending on your income. 

Last, in the sixth box, enter the expected inflation rate. Normally a safe number here could be around 3%.

Click the "compute" button and look at your results. First you see the gross future value. This is before taxes and inflation. Next you see your after tax future value. And the bottom box is the real picture. This is your after tax and inflation future value of your savings or investment.

So hopefully by now you can see how using this savings calculator can give you a true picture of how much your savings account will be worth when your ready to buy a house several years from now.

Of course, if you have a nice tidy little nest egg to start off with, you can get there even faster. Please pay it forward and share this website with the friends you know that are planning to buy a house.

Future Value Calculator

Future Value Calculator
This calculator will help you to determine the after-tax future value of a periodic investment in today's dollars.

Enter the initial investment (optional):
Enter the deposit amount:
Enter the annual interest rate (%):
Enter the number of years:
Enter your combined state and federal tax rate (%):
Enter the expected average annual inflation rate (%):
Gross future value:
After-tax future value:
After-tax future value accounting for inflation:

Want To Check Our Other Calculators?

Would you like to know how much you may need for a down payment? Consider playing with our down payment calculator.

I have an awesome calculator to help you figure your FHA closing costs. Be sure to take some time to explore it.


Leave Future Value Calculator and return to Mortgage Calculators main page.

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