Down payments, closing costs, and the post-purchase monthly shift all need their own runway — Cash Compass tracks the whole arc from savings to moving day.
Apple-native · No bank logins · iCloud sync
Set a target — say, $84,000 for 20% on a $420,000 home (the rough NAR Q1 2025 median) — and Cash Compass shows the monthly transfer pace and the chart projection of when you'll hit it. Voice input for one-off contributions like tax refunds or bonus deposits. The annual view shows whether the savings rate is actually moving toward the goal or stalling.
Closing costs usually run 2-5% of the loan, so on a $420,000 home that's $8,400-$21,000 on top of the down payment. Most first-time buyers forget this until 30 days before closing. A separate Cash Compass category for closing-cost savings keeps it visible from the start — inspection fees, appraisal, title insurance, lender fees, prepaid taxes and insurance, and the moving-day budget.
The month after closing your spending shape changes — rent disappears, mortgage and escrow appear, plus new line items like HOA, lawn care, repairs, and a higher utility bill. Cash Compass's chart view makes the before/after comparison visible, so you know within 60 days whether the new monthly baseline is sustainable or whether lifestyle creep is starting.
Voice, photo of a receipt, or 3-tap manual entry — every method takes under 5 seconds.
Cash Compass picks the category automatically. Override once and it learns your pattern.
Weekly chart shows where money went. Adjust caps before the month is over, not after.
On a $420,000 median home (per NAR Q1 2025 data), the standard rule is roughly 20% down ($84,000) to avoid PMI, plus 2-5% closing costs ($8,400-$21,000), plus a 3-6 month emergency fund that survives the move. That totals $100,000-$130,000 in cash. First-time buyers often go lower — FHA loans allow 3.5% down ($14,700 on a $420k home) but add monthly mortgage insurance for the life of the loan. Conventional loans allow as little as 3% down for first-time buyers but PMI runs $80-$300/month until you hit 20% equity. The real budgeting question isn't just the down payment — it's whether you can comfortably handle the new monthly payment plus surprise repair costs (most homes need $3,000-$5,000 in repairs in year one). Run the post-purchase monthly budget in Cash Compass before you make the offer.
For a $84,000 down payment goal (20% of a $420k home), the math depends on your savings rate. At $1,000/month saved, it's 7 years; at $2,000/month it's 3.5 years; at $3,000/month it's 2.3 years. Most US households save 5-7% of post-tax income for retirement and emergency fund combined — adding a house-savings line on top of that usually requires either a temporary cost-cutting period or income growth. Cash Compass's chart view makes the trajectory visible: if your average monthly transfer is $1,200, the projection updates and you can see whether you're 4 years out or 6. Aggressive saver households often hit the down payment in 2-3 years by treating it as a temporary austerity period — moving in with parents or a roommate, cutting dining and travel, and routing 30-40% of income to the savings line.
Beyond the down payment and closing costs, the post-move budget shifts in five directions. Property taxes and homeowner's insurance roll into the escrow payment (figure 1-2% of home value annually for taxes, $1,200-$2,500/year for insurance). HOA dues if applicable ($200-$800/month is common). Utilities scale up — heating, cooling, water, and trash often run 1.5-2x what they did in a rental. Maintenance and repairs average 1-2% of home value per year ($4,200-$8,400 on a $420k home) — some years it's $0, then the water heater fails in year 3 and costs $1,800. Furniture, window treatments, and the appliances the seller takes with them ($3,000-$10,000 in the first six months). Build categories for each in Cash Compass before closing so the first homeowner's chart isn't a surprise.
Year one in a house is when most buyers learn whether they underbought or overbought. The honest signal: if your housing costs (mortgage, taxes, insurance, HOA, utilities, maintenance) exceed 28-35% of gross income, savings will stall and unplanned repairs will hurt. Cash Compass's monthly chart makes this visible by month 3 — if the savings line is flat or negative, you bought slightly above your range. Three first-year moves help: build a dedicated home-repair sinking fund of $200-$400/month (cheaper than reactive panic spending), schedule annual maintenance to prevent emergencies (HVAC service, gutter cleaning, sealing), and re-evaluate insurance and PMI by month 18 — refinancing or removing PMI can save $1,000-$3,000/year once equity grows.
Built native for iPhone, iPad, and Mac with iCloud sync. Works offline.
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Manual entry, charts, category tracking — all free, forever. Premium is optional.
Track savings rate, closing-cost sinking fund, and post-purchase monthly baseline in one Cash Compass account.
Download Cash Compass on the App Store