Waiting to save 20% down can mean a smaller monthly mortgage payment when you do buy, but the rent payments you make during that time don’t build equity – and you can’t predict how interest rates, home prices and housing availability will change while you save.

But how do you figure out what makes sense for you? A unique online tool is being offered to help buyers decide whether it is better to wait or buy a home now. The calculator can help with a number of complicated questions, such as How much more expensive will it be to buy now with a lower down payment? and What are the financial implications of waiting until it’s possible to put down 20 percent?