Financial Literacy Interactive

Homebuying Reality Lab

Test the real cost of buying a home: mortgage payments, down payments, fixed vs. adjustable rates, insurance, taxes, and surprise repairs.

Mixedfocus mode
5home costs
1decision rule
Classroom estimate only. Actual mortgage terms, taxes, insurance, and loan approval rules vary.
1/6

Choose your homebuying focus.

Buying a home is not just the monthly mortgage. Choose a pathway, then test the numbers.

Mortgage mathDown paymentRate riskInsurance

Build the monthly payment.

Adjust the price, down payment, interest rate, and monthly ownership costs. Watch the payment and debt-to-income estimate change.

Principal + interest
$0
monthly loan payment
Full monthly cost
$0
loan + taxes + insurance + extras
Housing share
0%
of gross monthly income
Loan amount
$0
price minus down payment
A lower housing share gives your budget more room for repairs, savings, and life.

Check the cash to close.

The down payment is only one part of the upfront cost. Buyers may also need closing costs, inspections, moving costs, and a repair cushion.

Down payment
$0
0% of price
Closing costs
$0
estimated % of price
Repair reserve
$0
cash cushion after buying
Total cash target
$0
before you feel ready
A home can be affordable monthly but still unrealistic if the move-in cash is missing.

Sort the home costs.

Drag each cost into the best category. On touch screens, tap a chip to cycle it through the categories.

Draw a homeowner surprise.

Homes come with benefits and responsibilities. Draw a card and decide how a prepared buyer would respond.

No card drawn yet.

Click the button to reveal a realistic homeowner event.

The impact will appear here.

Your homebuying decision rule.

Use the numbers and the surprise event to write a rule you could actually use before buying a home.

Readiness signal
Review
based on payment and cash
Stress-test payment
$0
if rate rises by 2 points
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Homebuying Reality Lab - TutorsLit Financial Literacy