Our mission: help first-time buyers know their real number before they talk to a lender.
Buying your first home is the biggest financial decision most Americans make, yet most online calculators show only principal and interest. They leave out property taxes, homeowners insurance, PMI or FHA mortgage insurance, HOA dues, and closing costs, which is how buyers end up “house poor.” HomeAffordLab was built to show the full monthly cost, in plain English, before you sign anything.
What we do
- Free calculators for home affordability, the full monthly mortgage payment, and FHA loans, with every assumption shown on screen. VA, closing cost, and down payment tools are in progress.
- Guides written for first-time buyers that explain the rules behind each number: the 28/36 rule, PMI and FHA mortgage insurance, loan limits, and how to compare loan types.
- No sign-up required. The numbers you enter stay in your browser.
How we create and review content
- Primary sources first. Program rules and limits come from HUD (FHA), the U.S. Department of Veterans Affairs, the USDA, the CFPB, Fannie Mae, Freddie Mac, the FHFA, and the IRS, and we link to them.
- Every number is reproducible. Each example in our guides is calculated with the same calculator on the page, so you can enter the inputs and get the same result. Assumptions such as rates, tax rates, and insurance costs are stated next to every table.
- Regular updates. We recheck loan limits, mortgage insurance premiums, and program rules each January and whenever an agency announces a change. Each guide shows its “Last updated” date.
- Corrections. If you find an error, tell us through our Contact page. We fix confirmed errors within 5 business days and note the correction on the page.
Who is behind HomeAffordLab
HomeAffordLab is an independent, self-funded project. We are not a lender, broker, or real estate agency, and we do not sell your data or take referral fees for loan applications. Our job is to explain U.S. home buying costs clearly and to keep our calculators accurate.
We are not licensed mortgage professionals, and nothing on this site is financial advice. Before you commit to a loan, compare official Loan Estimates from at least three licensed lenders, as the Consumer Financial Protection Bureau recommends.
How we make money
HomeAffordLab is free because it is supported by advertising and, on some pages, affiliate partnerships. Advertisers do not influence our calculators or editorial conclusions. Read our full Advertising Disclosure.
Contact
Questions, corrections, or partnership requests: Contact us.