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.
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
Mortgage Guide
Everything a first-time borrower needs, start to finish.
Fixed vs Variable Rate
Which structure fits your risk tolerance and timeline.
Loan Affordability Rules
How much house your income can actually support.
Hidden Loan Fees
Closing costs and charges lenders mention quietly.
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.