Mortgage Guides
Free mortgage guides with plain-English explanations and live calculators.
15-Year vs 30-Year Mortgage: Which Saves You More?
A 15-year mortgage carries a higher monthly payment but can save $200,000 in interest. Here's a full comparison to help you choose the right term.
Are Mortgage Points Worth It? A Break-Even Analysis
Paying mortgage points lowers your rate but costs money upfront. Learn when buying down your rate makes financial sense — and when it doesn't.
Down Payment Strategies: 3% vs 5% vs 10% vs 20% — What's Right for You?
Choosing your down payment amount involves tradeoffs between PMI, monthly payments, and equity. Here's a side-by-side comparison to help you decide.
HELOC vs. Cash-Out Refinance: Which Is Right for Your Home Equity?
HELOCs offer flexible revolving credit; cash-out refis give you a lump sum at a fixed rate. Here's how to choose between them based on your needs.
How Extra Mortgage Payments Shorten Your Loan and Save Thousands
Making even one extra mortgage payment per year can cut 4–5 years off a 30-year loan and save tens of thousands in interest. Here's the math.
How Property Taxes Are Calculated and Added to Your Monthly Payment
Property taxes are collected monthly through escrow and can add $200–$700 to your payment. Here's how they're calculated and what to expect.
How to Calculate Your Refinancing Break-Even Point
Refinancing only makes sense if you stay long enough to recoup closing costs. Learn how to calculate your break-even point before you commit.
How to Read an Amortization Schedule
Learn what every column in a mortgage amortization schedule means, with a real worked example on a $400,000 loan at 7%.
PMI Explained: What It Costs and How to Cancel It
Private mortgage insurance protects the lender, not you. Learn when PMI is required, how much it costs, and how to get rid of it.
Rent vs. Buy in a High-Rate Environment: When Renting Actually Wins
At high mortgage rates, renting can be financially superior to buying for several years. Learn how to use the price-to-rent ratio and break-even horizon.
The Hidden Costs of Homeownership: Understanding PITI
Your mortgage payment is more than principal and interest. PITI — Principal, Interest, Taxes, and Insurance — is the true measure of your monthly housing cost.
The Real Cost of Waiting: How a 1% Rate Hike Shrinks Your Buying Power
A 1% increase in mortgage rates can cost you $50,000–$60,000 in extra interest and reduce your buying power by up to 10%. Here's the math.