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Mortgage guides

Plain-language explanations with worked examples, each tied to a calculator you can use on your own numbers.

Mortgage amortization explainedSee how each payment splits between interest and principal, what remaining amortization means, and why your balance drops slowly at first. Worked example included.What is in a mortgage payment? PITI explainedPrincipal, interest, taxes, insurance, PMI and HOA: how each part of a monthly mortgage payment works, with a full worked example on a $400,000 home.How PMI works and how to get rid of itWhat private mortgage insurance costs, when it ends under federal law (80% and 78% rules), and how FHA mortgage insurance differs. Worked example included.15-year vs 30-year mortgageCompare payment, total interest and risk on a $300,000 loan. See what the 15-year saves, what it costs each month, and who each term suits.Extra mortgage payments: how much you saveWhat $50, $100, $200 or $500 extra a month does to a 30-year mortgage: months saved and interest saved, plus how to make sure it goes to principal.