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Home Buying Guides

Plain-language guides to the mortgage side of buying a home — how payments work, how lenders look at your finances, and how common loan types compare. Each guide links to sources so you can verify the details.

Start here

New to the process? This checklist walks through what to understand and gather before you talk to lenders.

A First-Time Homebuyer's Mortgage ChecklistThe documents, numbers, and questions to prepare before you apply for a mortgage.

Mortgage basics

How the numbers behind a mortgage are calculated and what lenders look at.

How Mortgage Payments Are CalculatedWhat makes up a monthly payment and how principal and interest are figured. What Is Mortgage Amortization?Why early payments are mostly interest and how your balance falls over time. How Debt-to-Income Ratio WorksHow DTI is calculated and why lenders use it to evaluate applications.

Loan types

How common mortgage structures differ and what trade-offs to consider.

Fixed-Rate vs. Adjustable-Rate MortgagesHow each works, how ARM rates can change, and questions to ask before choosing.

Browse by topic

See every article in a topic, including new guides as they are published.

Mortgage BasicsPayments, amortization, interest, and the key terms on a loan. Home BuyingPreparing to buy, budgeting, and navigating the process. Loan TypesFixed-rate, adjustable-rate, and other mortgage options compared.

Put the guides into practice with your own numbers. All calculators run in your browser and store nothing.

Mortgage Payment CalculatorEstimate a monthly payment for a specific home. Mortgage Affordability CalculatorEstimate a price range that fits your budget. Debt-to-Income Ratio CalculatorCheck your DTI before you apply. Mortgage Amortization CalculatorSee your full payment schedule. Refinance Break-Even CalculatorFind out when refinancing could pay off.

General information only. Our guides explain how things generally work; they are not personalized advice. For help with your situation, a HUD-approved housing counselor can be a good starting point. See our Disclaimer and Editorial Policy.