Mortgage guide
Plain-English mortgage explainers for the numbers people actually compare.
Use these pages with the calculators to understand payment math, affordability, PMI, escrow, refinance timing, extra payments, closing costs, and appreciation assumptions.
A plain-English guide to principal, interest, taxes, insurance, PMI, escrow, and why the same loan balance shifts from interest-heavy to principal-heavy over time.
Mortgage insurance PMI ExplainedWhat private mortgage insurance is, when it usually applies, how it is paid, and how to think about PMI when comparing low-down-payment mortgage options.
Escrow costs Property Taxes and Escrow ExplainedHow property taxes, homeowners insurance, escrow accounts, shortages, surpluses, and payment changes fit into a mortgage payment.
Loan term 15-Year vs. 30-Year MortgageCompare 15-year and 30-year mortgages by monthly payment, total interest, equity speed, flexibility, and household cash flow.
Refinance math Refinance Break-Even ExplainedHow to calculate refinance break-even, when a lower rate is not enough, and how closing costs, term resets, and moving plans change the answer.
Payoff strategy How Extra Payments Reduce InterestWhy extra principal payments can shorten a mortgage, how timing affects interest savings, and what to check before sending extra money.
Qualification metric What DTI Ratio MeansDebt-to-income ratio explained for mortgage shoppers, including front-end housing cost, back-end debt, lender limits, and affordability breathing room.
Cash to close Closing Costs by Buyer and SellerA practical breakdown of buyer-paid and seller-paid closing costs, lender credits, seller credits, prepaid items, and what the Closing Disclosure shows.
Budget guardrails Mortgage Affordability Rules of ThumbHow to use 28/36-style rules, DTI, reserves, maintenance, and lifestyle costs without letting a rule of thumb become the whole budget.
Long-term tradeoff Home Appreciation vs. Mortgage InterestHow to compare home price appreciation with mortgage interest, total interest percentage, principal paydown, local FHFA data, and ownership costs.