The most comprehensive free mortgage toolkit — payment calculator, amortization, rent vs buy, ARM, biweekly, tax savings, HELOC, and more.
Adjust the fields below to match your loan scenario
See exactly how your loan balance decreases over time
| Year | Beginning Balance | Principal | Interest | Ending Balance |
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Pay every two weeks instead of monthly — make one extra payment per year and save thousands
Is it better to rent or buy? Compare the true long-term cost of each
See how your payment changes after the initial fixed period ends
Interest-only mortgages and balloon loans
During the IO period you pay only interest — no principal reduction.
A balloon mortgage has a large lump-sum payment due at the end of a short term.
Find out how much house you can afford based on your income
Every tool you need to make confident mortgage decisions
Compare your current loan with a new rate to see your savings.
See how extra monthly payments accelerate your payoff.
Compare 15 vs 30-year mortgages side by side.
Find out if buying down your rate is worth the upfront cost.
Estimate your federal tax deduction from mortgage interest payments.
Calculate the true APR including lender fees, points, and closing costs.
How much income do you need to qualify for a specific home price?
Calculate your home equity line of credit availability and payments.
Calculate payments on a home equity loan (lump sum, fixed rate).
National average rates as of — actual rates vary by lender & credit score
Rates shown are for illustrative purposes. Actual rates depend on your credit score, LTV, location, and lender.
Find and compare current lender offers based on your loan details
Rates shown are representative estimates for illustrative purposes and may not reflect live market conditions. Actual rates depend on credit profile, LTV, property type, and lender criteria.
Your monthly payment (P&I) uses the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n–1], where P is the loan amount, r is the monthly interest rate, and n is the number of payments. Additional costs like property tax, insurance, PMI, and HOA are added on top.
Private Mortgage Insurance (PMI) is required on conventional loans when your down payment is less than 20% of the home price. It typically costs 0.5%–1.5% of the loan amount per year and can be removed once you reach 20% equity.
A 15-year mortgage has higher monthly payments but builds equity faster and saves significant interest. A 30-year mortgage offers lower monthly payments and more cash flow flexibility. Use the Loan Comparison tool to see the numbers for your scenario.
The interest rate is the base cost of borrowing. APR includes the interest rate plus lender fees, points, and other costs — giving a more accurate picture of the loan's true cost. Use our Real APR Calculator to find the true cost of your loan.
ARMs offer lower initial rates but carry payment risk after the fixed period ends. A 5/1 ARM is fixed for 5 years, then adjusts annually. If rates rise significantly, your payment could jump hundreds of dollars. Use our ARM Calculator to model worst-case scenarios.
Paying every two weeks results in 26 half-payments per year — equivalent to 13 full monthly payments instead of 12. That one extra payment per year is applied to principal, reducing your balance faster and saving significant interest over the loan term.
Buying generally wins long-term when you stay in a home 5+ years, home prices appreciate, and your rent would otherwise keep rising. The Rent vs Buy calculator accounts for equity growth, maintenance, opportunity cost on the down payment, and rent increases.
Most conventional loans require a minimum score of 620. FHA loans accept scores as low as 580 (or 500 with a 10% down payment). VA and USDA loans don't have a strict minimum but lenders typically want 620+. Higher scores unlock better rates and terms.