Tools that tell you the truth about homeownership.
Buying your first home is one of the biggest financial decisions you\u2019ll ever make, and most calculators leave out the parts that actually change the answer. We built HomeReadyCalc to fix that.
Our story
Most first-time homebuyers start their search the same way: they open a mortgage calculator on a big real-estate site, plug in a price, and see a monthly payment that looks great. Then they fall in love with a house, sign an offer, and only later find out about property taxes, homeowners insurance, PMI, and thousands of dollars of closing costs that nobody mentioned.
We built HomeReadyCalc so the real numbers come first \u2014 not at the closing table.
Our goal is simple: help first-time buyers (especially 20- to 40-year-olds buying their first place) make informed, confident decisions. That means honest calculators that include everything a lender would factor in, guides written like a friend would explain them, and zero pressure to sign up, buy anything, or hand over a phone number.
Every tool on this site is free, works instantly, and requires no account. We believe the information gap between first-time buyers and experienced homeowners is the biggest source of costly mistakes \u2014 and we\u2019re here to close it.
Independent
We don’t sell mortgages or earn commissions from lenders. Our calculators have no hidden agenda — just honest numbers and clear explanations so you can make your own informed decision.
Approachable
Written for real people in their 20s and 30s making one of the biggest financial decisions of their life. No jargon walls, no fine-print gotchas — just straightforward language.
Transparent
Every calculator explains its assumptions — the formulas, the data sources, and where estimates could vary — so you can adjust them to match your actual situation rather than trusting a black box.
Practical
No fluff, no clickbait, no “sign up to see your results.” Just the tools and guides that move the needle on your home-buying journey — free and instant, every time.
Who HomeReadyCalc is built for
First-time buyers who are still months (or years) away from making an offer and want to understand what they can realistically afford before talking to a lender. Our affordability and down-payment tools are designed for people in the \u201cfiguring it out\u201d stage.
Renters running the numbers on whether buying makes sense in their market. If you\u2019ve ever wondered \u201ccan I actually afford a $350K house on my salary?\u201d \u2014 that\u2019s exactly the question our tools are built to answer with real math, not vague rules of thumb.
Buyers under contract who just got a loan estimate and want to double-check the closing costs, PMI, and escrow numbers their lender quoted. Our closing-cost and PMI calculators break down every line item so nothing surprises you at signing.
Current homeowners weighing whether to refinance, make extra payments, or stay the course. Our refinance and extra-payment calculators compare the real lifetime cost of each option side by side \u2014 not just the monthly number.
How our calculators work
We use the same formulas lenders use \u2014 standard amortization math, real property-tax and insurance averages by state, and PMI rate tables based on LTV and credit-score tiers. Here\u2019s what makes our approach different from most online calculators.
Full PITI, not just P&I
Most sites show principal and interest only. We include property tax, homeowners insurance, and PMI by default \u2014 because those are the numbers that actually hit your bank account every month.
State-aware defaults
Property tax rates vary from 0.29% in Hawaii to 2.47% in New Jersey. Insurance costs differ just as much. Our calculators pre-fill realistic defaults for each state so your first estimate is already in the right ballpark.
Education built in
Every calculator page includes a detailed FAQ section that explains the concepts behind the numbers \u2014 when PMI drops off, how the 28/36 rule works, what counts as a closing cost \u2014 so you understand the \u201cwhy,\u201d not just the \u201cwhat.\u201d
Ready to run the numbers?
Start with our most popular tool \u2014 the mortgage calculator \u2014 or browse all 11 calculators and 4 in-depth guides on the tools page.