Trying to buy
Start with income, debts, down payment, taxes, insurance, mortgage insurance, HOA dues, cash to close, and reserves before a listing feels urgent.
Real estate guide
Run the mortgage math before the offer, refinance, or equity decision.
Use this hub to estimate home affordability, compare refinance break-even timing, review mortgage points, compare Loan Estimates, understand payments, and weigh home-equity risk without live rates, lender picks, or product recommendations.
By CashTalks ·
No live rates
CashTalks explains rate tradeoffs, but does not quote current mortgage rates or recommend lenders.
Local-only tools
Calculator inputs stay in your browser unless you click a Penny handoff.
Home-risk clarity
Any debt secured by home equity can put the home at risk if payments are not made.
Decision map
Pick the row closest to today. These are education-first starting points, not mortgage approval, rate locks, lender advice, tax advice, legal advice, or closing guarantees.
Comparing mortgage offers
Use official Loan Estimates to compare rate, APR, points, lender credits, monthly payment, cash to close, closing costs, and lock assumptions.
Considering a refinance
Separate monthly-payment savings from total-interest savings, reset-term risk, closing costs, points, escrow changes, and cash-out risk.
Using home equity
Compare HELOCs, home equity loans, and cash-out refinances by structure, rate type, fees, payment shock, and the risk of securing debt with the home.
Refinance break-even calculator
Compare monthly savings with total-interest tradeoffs
Enter your current mortgage and a possible new loan. The calculator estimates principal-and-interest payment change, closing and points cost, break-even month, and remaining-interest comparison under simplified fixed-rate assumptions.
Current loan
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New loan scenario
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Caution
- The new term is longer than the remaining term, so a lower monthly payment can still mean more total interest.
- This scenario can lower the monthly payment while increasing estimated total interest plus upfront costs.
Educational assumptions
- Principal and interest only; taxes, homeowners insurance, mortgage insurance, and escrow changes are excluded.
- Closing costs and points are treated as paid up front, not rolled into the new loan.
- Cash-out is added to the new loan balance and remains secured by the home.
- Estimates do not include underwriting, credit approval, rate locks, prepayment penalties, or final closing-table figures.
Home affordability calculator
Estimate payment, debt-to-income, and cash-to-close pressure
Enter income, debts, price, down payment, rate, term, and monthly ownership costs. The estimate shows principal and interest, PITI-style payment, debt-to-income ratios, and cash-to-close context.
Household and price
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Editable ownership cost assumptions
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Caution
- Housing costs are above 30% of gross monthly income in this simplified estimate.
Scenario cards
Entered price
Price: $420,000
Monthly: $3,173
Back-end DTI: 42.48%
5% lower price
Price: $399,000
Monthly: $3,057
Back-end DTI: 41.18%
5% higher price
Price: $441,000
Monthly: $3,290
Back-end DTI: 43.78%
More local tools
Compare the offer details before a signature
Points and lender credits change the cash-now versus payment-later tradeoff. Loan Estimate and Closing Disclosure review keeps the monthly payment, APR, cash to close, and closing-cost story in one place.
Points break-even
Compare points cost, payment difference, break-even month, and whether the expected time in the home reaches break-even.
Open Points CalculatorLoan Estimate comparison
Compare two offers by loan amount, rate, APR, term, points, credits, cash to close, closing costs, and monthly P&I.
Open Comparison TableTalk through the real estate decision
Penny can help organize the decision and the questions to ask a lender, settlement agent, housing counselor, tax professional, or attorney when needed.
Continue with PennyReal estate guides
Each page is designed around one mortgage or homebuying decision without naming lenders, quoting live rates, or promising approval, savings, tax outcomes, or legal outcomes.
Buy before you bid
Home affordability calculator
Estimate a mortgage payment, debt-to-income ratios, and cash-to-close pressure from income, debts, price, down payment, rate, and ownership-cost assumptions.
Read GuideRefinance math
Refinance break-even calculator
Estimate refinance payment change, closing costs, points, cash-out amount, break-even month, and remaining-interest comparison under simplified assumptions.
Read GuideRefinance decision
Should I refinance?
A guide to refinance reasons, break-even math, reset-term risk, cash-out risk, closing costs, and Loan Estimate questions without live rate quotes or lender recommendations.
Read GuidePayment basics
Mortgage payment explained
Understand the difference between principal and interest, total monthly mortgage payment, escrowed taxes and insurance, mortgage insurance, HOA dues, and payment changes.
Read GuideMortgage disclosures
Loan Estimate and Closing Disclosure
Use a local offer comparison table and guide to compare Loan Estimates and Closing Disclosures by loan amount, rate, APR, points, credits, cash to close, and payment.
Read GuideRate tradeoff
Points vs no points
Compare mortgage discount points with no-points pricing using upfront cost, payment difference, break-even month, and expected time in the home.
Read GuideHome equity
HELOC vs home equity loan vs cash-out refi
Compare HELOCs, home equity loans, and cash-out refinances by structure, rate, payment, fees, draw period, total debt, and home-risk tradeoffs.
Read GuideHomebuying steps
First-time homebuyer checklist
A practical first-time homebuyer checklist for affordability, credit, savings, loan shopping, inspections, insurance, disclosures, closing cash, and post-closing reserves.
Read GuideOfficial Resources
- CFPB Your Home Loan Toolkit
CFPB step-by-step mortgage toolkit for comparing loan choices, closing costs, and homebuying responsibilities.
- CFPB Loan Estimate explainer
Interactive CFPB guide to reviewing a Loan Estimate, including monthly payment, cash to close, points, services, and rate-lock details.
- CFPB points and lender credits
CFPB guidance on discount points, lender credits, upfront costs, monthly payment tradeoffs, and time-horizon comparisons.
- CFPB HELOC basics
CFPB explanation of home equity lines of credit, draw periods, repayment periods, variable rates, fees, and home-risk cautions.
- HUD buying a home
HUD homebuying guide covering affordability, rights, loan shopping, inspections, insurance, closing, and housing counseling.
- Fannie Mae mortgage affordability calculator
Fannie Mae calculator and education page about estimating home affordability from income, debts, down payment, rate, and homeownership costs.
- Fannie Mae refinance options
Fannie Mae overview of traditional refinance, cash-out refinance, equity, term, payment, and total-interest tradeoffs.
- Freddie Mac refinance options
Freddie Mac overview of no-cash-out and cash-out refinance choices, costs, rates, term changes, and lender comparison.