Advertisement

Calculator / Learn

Learn About Mortgages

Plain-English guides to how mortgages and rates work, from your first question to closing day. No jargon, no sales pitch.

What is a mortgage?

How home loans work

How mortgage rates are set

Why rates change

APR vs interest rate

What APR really means

Discount points

Buying down the rate

Rate lock

When to lock

Fixed vs adjustable

Fixed vs ARM

PMI and MIP

Mortgage insurance

Escrow and PITI

What is in your payment

Debt-to-income

DTI explained

Credit scores

What score you need

Closing costs

What you pay

Amortization

How payoff works

Down payments

How much to put down

How to shop

Compare lenders

How much can you afford?

Find your price

Pre-approval

How it works

Home appraisal

Value and low appraisals

Rate buydowns

2-1 temporary buydowns

Loan Estimate vs CD

Compare the two forms

Seller concessions

Limits by loan type

Glossary

Every term defined

Today's rates

Live daily averages

Closing cost calculator

Estimate cash to close

Construction loan calculator

Draws and permanent payment

Ready to run numbers? Try the payment calculator or browse all mortgage calculators.
Important disclosures. LoanFitCalc is a free educational tool that provides estimates only. It is not a loan, a loan approval, a commitment to lend, a rate lock, or an offer to make a loan, and it does not provide financial, legal, or tax advice or recommend a specific loan for you. Mortgage insurance rates, funding and guarantee fees, loan limits, taxes, and insurance figures are typical published values used for estimation and are subject to change. Program eligibility rules are summarized and simplified. Actual terms depend on your full application, credit, property, and lender underwriting. Consult a licensed mortgage loan originator before making any decision. LoanFitCalc is an independent educational website and is not a lender. ⌂ Equal Housing Opportunity
Advertisement