Mortgage Hub
Work out what a home loan really costs — the payment, the interest, and the trade-offs — with calculators you can check, guides in plain English, and honest comparisons.
Not financial advice. This hub is for information only. It does not recommend a lender, a rate, or a time to buy. Read the full disclaimer.
What a small rate change does
Same loan — $300,000 over 30 years, principal and interest only — at three rates. Every figure below comes from the standard amortization formula M = P × r(1+r)n / ((1+r)n − 1) and can be reproduced in the mortgage calculator:
| Rate (30-yr fixed) | Monthly payment | Total interest |
|---|---|---|
| 6.0% | $1,798.65 | $347,515 |
| 6.5% | $1,896.20 | $382,633 |
| 7.0% | $1,995.91 | $418,527 |
What if you pay extra? Adding $250/month to the 6.5% loan clears it in 262 months instead of 360 — about 8 years early — and saves roughly $120,337 in interest, with no refinancing fees. Test your own numbers in the extra payment calculator.
Mortgage calculators
Mortgage Calculator
Monthly payment, total interest, and amortization for any price, rate, and term.
LiveAmortization Schedule
See exactly where each payment goes, year by year.
LiveRefinance Calculator
Check whether a lower rate beats the closing costs.
LiveExtra Payment Calculator
How much time and interest an overpayment saves.
LiveAPR Calculator
Compare offers by true annual cost, fees included.
LiveHome Affordability Calculator
Work backwards from your income to the price you can actually carry.
LiveDTI Calculator
The debt-to-income ratio lenders check first — and the ceiling that decides approval.
Fixed vs variable at a glance
A fixed rate costs more today and never moves; a variable rate starts cheaper and can rise. If you could not afford the payment 2–3 points above today's variable rate, choose fixed. The full trade-off, with worked examples, is in fixed vs variable rate.
Mortgage guides
How Much House Can I Afford?
The full 28/36 calculation with worked examples and a payment stress test.
Closing Costs on a Mortgage
The four buckets on your Loan Estimate, what is negotiable, and a $350,000 worked example.
How Much Down Payment Do You Need?
Program minimums by loan type, why 20% matters, and what PMI really costs.
First-Time Home Buyer Guide
The seven stages from budget to keys, and the 14-day rate-shopping window.
15-Year vs 30-Year Mortgage
$212,235 saved, but $717 a month higher. The side-by-side numbers.
Mortgage Preapproval: Step by Step
Documents, the 14-day rate-shopping window, and comparing Loan Estimates.
Fixed vs Adjustable Rate
What you give up for certainty, with scenario tables for both structures.
Mortgage Guide
Everything a first-time borrower needs, start to finish.
Refinance Guide
When refinancing pays for itself, and the break-even arithmetic that decides it.
Home Equity Loan
Borrowing against your equity — and how it differs from a HELOC or cash-out refinance.
Hidden Loan Fees
Closing costs and charges lenders mention quietly.
Average Mortgage Rates 2026: Original Data
What each rate actually costs on a typical loan, computed from current averages.
Mortgage terms, explained
The nine terms that decide what you pay. Each links to a plain-English definition.
Principal
The amount you borrowed, before interest — and the only part extra payments attack.
Amortization
Why early payments are mostly interest and late payments are mostly principal.
APR
The rate with fees folded in. The number to compare offers on.
Escrow
Where your property tax and insurance sit, and why the payment changes yearly.
PMI
Insurance you pay for the lender's benefit below 20% down — and how to remove it.
Equity
What you own outright: value minus what is still owed.
Debt-to-income
The ratio that gates approval, and the level most lenders will not cross.
HELOC
Borrowing against equity, with the risks that make it different from a mortgage.
Compound interest
The mechanism behind the total-interest figure on every mortgage calculator.
Common questions
How is a mortgage payment calculated?
With the standard amortization formula, using your loan amount, monthly rate, and number of payments. Property tax, insurance, and fees sit on top — the calculator result is principal and interest unless stated otherwise.
How much difference does 0.5% in rate make?
On a $300,000 30-year loan, about $100/month and roughly $35,000 in total interest. Small rate differences are large money over 30 years.
Is it better to overpay or to refinance?
Overpaying has no fees and always shortens the term. Refinancing only wins when the new rate, after closing costs, beats what overpayment achieves. Run both calculators before deciding.
Fixed or variable rate?
Fixed for certainty, variable for a cheaper start with risk. Stress-test the variable payment 2–3 points higher; if it breaks the budget, go fixed.
Sources & method
Formulas follow the standard amortization math referenced by the Consumer Financial Protection Bureau (US) and the Federal Reserve (US). Rate examples above are illustrative, not offers. Page last reviewed September 2026 — found an error? Tell us. Full method: methodology.