Mortgage guides
Plain-English explanations with worked examples for the decisions that cost or save the most money: how much to borrow, which loan to choose, what you'll pay at closing and how to pay less interest once you own the home.
Before you buy
- How much house can I afford? The 28/36 rule lenders use, a price table by income and how debts change the answer. Read guide →
- Mortgage closing costs explained What you pay at closing, typical amounts line by line, and how to lower the bill. Read guide →
- PMI: what it costs and how to remove it When PMI is required, what it adds to your payment and the exact rules for canceling it. Read guide →
Choosing a mortgage
- 15-year vs 30-year mortgage Payment, total interest and flexibility compared on the same loan, with a middle-ground option. Read guide →
- Fixed-rate vs adjustable-rate (ARM) How ARMs adjust, what the caps mean and how high your payment could go. Read guide →
- APR vs interest rate (and mortgage points) Why APR is higher than the rate, how to compare offers, and when buying points pays off. Read guide →
Once you have a mortgage
- How to read an amortization schedule How much of each payment goes to interest vs principal, month by month and year by year. Read guide →
- Extra payment calculator See how extra monthly, biweekly or lump-sum payments shorten your loan and cut interest. Open calculator →
- Mortgage escrow accounts explained Why taxes and insurance are in your payment, how the yearly escrow analysis works, and shortages. Read guide →
- When does refinancing make sense? Break-even math with closing costs, and why resetting to a new 30-year term can backfire. Read guide →