Guides
Mortgage guides, in plain English.
In-depth, plain-English guides to mortgages — affordability, amortization, refinancing, PMI and loan types, each paired with a calculator.
- 01 How Much House Can You Afford? Lenders answer 'how much can I borrow?' with two ratios. Here's how they work, what they leave out, and how to find a number you can actually live with.
- 02 How Mortgage Amortization Works Every fixed mortgage payment is the same dollar amount, but the split between interest and principal changes every month. Here's the mechanism — and how to use it.
- 03 15- vs 30-Year Mortgage: Which Is Right for You? The choice between a 15- and 30-year mortgage is really a choice between a lower payment and far less total interest. Here's how to weigh the trade-off for your situation.
- 04 Private Mortgage Insurance (PMI), Explained PMI protects your lender, not you, and you pay for it when your down payment is under 20%. Here's what it costs and how to make it go away.
- 05 FHA vs. Conventional Loan FHA loans open the door with lower credit and smaller down payments; conventional loans reward stronger credit and let you shed mortgage insurance. Here's how to tell which fits.
- 06 When Does Refinancing Actually Make Sense? A lower rate is only half the story. The real test is your break-even point — how long it takes monthly savings to repay closing costs — and whether you'll stay long enough to clear it.
- 07 Fixed vs. Adjustable-Rate Mortgages Fixed-rate loans buy certainty; ARMs buy a lower starting rate in exchange for risk later. The right choice usually comes down to how long you plan to keep the loan.
- 08 The First-Time Home Buyer's Guide Buying your first home is a sequence, not a leap. Here is the full order of operations, from setting a budget you can live with to the keys in your hand.
- 09 VA vs. Conventional Loan For an eligible veteran a VA loan usually wins outright — no down payment, no PMI, lower rates. A conventional loan is the move when you aren't eligible or want a second home.
- 10 Closing Costs: What You Actually Pay Beyond the down payment, closing costs are the other check you write at the table. Here is what each fee is, who pays it, and how to shrink it.
- 11 Types of Mortgages: The Complete Guide There are far more mortgage types than most buyers realize, and the right one depends on your credit, down payment and how long you'll stay. Here's how each works and when it fits.
- 12 How to Qualify for a Mortgage Mortgage approval comes down to five checks a lender runs on your finances and the home. Here's what each one means, how to strengthen it, and why applications get declined.
- 13 Credit Scores and Your Mortgage Your credit score is the single biggest lever on the rate you're offered. Here's how the tiers work, what they cost over 30 years, and how to move up a band.
- 14 Cash-Out Refinance vs. Home Equity Loan A cash-out refinance rewrites your whole mortgage; a home equity loan or HELOC leaves it alone and adds a second loan. In a high-rate market that difference decides it.
- 15 How to Shop for a Mortgage Getting three honest quotes and reading them correctly can save more than any other hour you spend buying a home. Here's exactly what to compare and how.
- 16 The True Cost of Refinancing Refinancing trades real money today for a lower payment tomorrow. The honest cost includes closing fees, a reset 30-year clock, and lifetime interest — not just the headline rate. Here's how to weigh all three.