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Planned tools

    Educational information only — not legal, tax, or financial advice. Figures reflect general U.S. rules and can change; verify current specifics for your situation.

    Inputs

    Estimates for general information only — not legal, tax, or financial advice.

    Scenario

    Account

    Cushion (RESPA)

    2 months

    Federal law caps the cushion at 2 months of escrow payments.

    Inflates the disbursements above to model rising taxes/premiums for the coming year.

    Annual disbursements

    ItemAnnual $Frequency1st mo.
    Current payment$0
    →
    Recommended payment$0
    $0/mo no change
    New monthly payment
    $0
    escrow portion
    Annual disbursed
    $0
    taxes, insurance & fees
    Required cushion
    $0
    target low point
    Shortage / surplus
    $0
    vs. required cushion

    Projected running balance

    BalanceCushion floor

    Imported historical activity

    DateDescriptionTypeAmountBalance
    MonthStartingDepositDisbursedEnding
    12-month total$0$0

    How this works. The projection runs your account month by month at the base deposit (annual disbursements ÷ 12), finds the lowest point over the year, and compares it to the required cushion. A projected low point below the cushion is a shortage, spread over 12 months to catch up; above it is a surplus. Estimate for planning — your servicer's statement governs. Not financial advice.

    Loan

    Extra payments

    Pay off by a target date

    🔗 Monthly escrow: $0/mo, added to principal & interest for your full monthly PITI.
    Principal & interest
    $0
    per month
    Full PITI payment
    $0
    P&I + escrow
    Total interest
    $0
    over the loan
    Payoff
    —

    Balance & cumulative interest

    BalanceCumulative interest

    Payment schedule

    YearPaymentPrincipalInterestBalance
    Total$0$0$0

    Amortization. Each payment covers the month's interest first (balance × rate ÷ 12); the rest reduces principal. Any extra goes straight to principal, shortening the term and cutting total interest. PITI adds the recommended monthly escrow from the Analysis tab. Estimate only — excludes PMI and any lender fees.

    Home & loan

    Taxes, insurance & fees

    Property tax / yr
    %
    HOA

    Closing costs

    Total monthly payment
    $0
    PITI + HOA + PMI
    Principal & interest
    $0
    per month
    Loan amount
    $0
    — LTV
    Down payment
    $0
    —

    Cash to close

    Down payment$0
    Closing costs$0
    Cash needed at closing$0

    Loan cost over the full term

    Est. APR —
    Total principal & interest paid$0
    Total interest$0
    Lifetime cost (P&I + taxes + ins + PMI)$0

    Monthly payment breakdown

    Full monthly payment. Principal & interest come from the loan amount, rate, and term; taxes and insurance are the monthly share of their annual costs; HOA and PMI are added as entered. PMI is auto-estimated at ~0.6%/yr of the loan when your down payment is under 20% — edit it to match your quote, and it typically drops off once you reach ~20% equity. Estimate only — not financial advice.

    Income & debts

    Loan & costs

    Property tax
    %
    HOA
    Max home price
    $0
    at your limits
    Max loan
    $0
    —
    Max monthly housing
    $0
    PITI budget
    Binding limit
    —
    front vs back DTI

    Estimated payment at max price

    ComponentMonthly

    Max price is the highest where your full PITI (principal, interest, taxes, insurance, HOA, and PMI if under 20% down) stays within the smaller of your front-end (housing) and back-end (housing + debts) DTI limits. A rough guide — lenders weigh credit, reserves, and program rules too. Not a pre-approval.

    Current loan

    New loan

    New payment (P&I)
    $0
    was —
    Monthly change
    $0
    vs current
    Break-even
    —
    to recoup costs
    Lifetime change
    $0
    total cost vs staying

    Current vs. new

     CurrentNew

    Break-even is the number of months of payment savings needed to recoup the closing costs you pay out of pocket. Rolling costs into the loan means $0 out of pocket but a larger balance. Lifetime change compares total remaining cost of the current loan vs. the new loan (plus any upfront costs). Estimate only — excludes escrow, taxes, and PMI changes.

    Both loans

    Loan A

    Loan B

    Loan A payment
    $0
    P&I / mo
    Loan B payment
    $0
    P&I / mo
    Lower total cost
    —
    over the full term
    Break-even
    —
    on the upfront gap

    Side by side

     Loan ALoan B

    Compare two loans - e.g., a higher rate with no points vs. a lower rate you buy down with points. "Total cost" is all payments plus upfront points & fees over the full term (assuming you keep the loan). Break-even is how long the lower-payment loan takes to recoup its extra upfront cost. Estimate only — not financial advice.

    Loan

    Index & margin

    Caps (first / periodic / lifetime)

    Initial payment
    $0
    during fixed period
    After 1st adjustment
    $0
    if index holds
    Worst-case payment
    $0
    at lifetime cap
    Fully-indexed rate
    0%
    index + margin

    Projected payment path

    StageRatePayment

    Two scenarios: index holds (the rate moves toward the fully-indexed rate, capped) and worst case (the rate rises by the maximum cap at every adjustment up to the lifetime ceiling). Each adjustment re-amortizes the remaining balance over the remaining term. Floors are approximated at the margin. Estimate only — your note's exact caps, index, and rounding govern. Not financial advice.

    Buying

    Ownership costs

    Property tax /yr
    %
    HOA

    Renting & investing

    Better after horizon
    —
    net worth
    Buy net worth
    $0
    home equity, net of sale
    Rent net worth
    $0
    invested portfolio
    Break-even
    —
    buying pulls ahead

    Net worth by year

    YearBuyRent

    Both households are given the buyer's budget: the renter invests the down payment + closing costs and any monthly amount by which owning costs more than renting (drawing it down when renting costs more), at the investment return. "Buy net worth" is home equity after selling costs. Excludes income-tax effects (mortgage-interest / property-tax deductions) and rent deposits. Estimate only — not financial advice.

    Lookup

    Rule

    The rate is taken N days before your reference date. If that day is a weekend or U.S. federal holiday, it rolls back to the previous business day — the standard ARM index lookback.

    T-Note rate
    —
    as of —
    Rate date
    —
    resolved business day
    Reference − lookback
    —
    before adjustment

    Rate history

    10Y● resolved date

    Full curve on rate date

    TenorRate

    Recent business days

    Date10Y

    Source: . Bundled data range . Constant-maturity yields; the value shown is the last published rate on or before the resolved business day. Reference only — not financial advice.

    Financial Tool Kit Free educational calculators for mortgage, auto, investing, budgeting, debt, and retirement decisions. All figures are estimates for general information only and are not legal, tax, or financial advice.

    Information only — not advice

    The Financial Tool Kit provides general educational calculators and information. Its outputs are estimates and may not reflect your actual terms, rates, taxes, or situation.

    Nothing here is legal, tax, financial, or investment advice, and using these tools does not create any advisory relationship. For decisions that matter, consult a qualified licensed professional.

    You'll see this once per visit.

    Import historical activity

    Paste a CSV export from your servicer or upload a file. Columns: Date, Description, and either Amount (negative = paid out) or separate Deposit / Withdrawal columns. A Balance column is used if present.

    Escrow statement

    Add optional account details, then preview and print (Save as PDF) or download the statement.

    Mortgage guide Dev

    Plain-language help for this app and for mortgages in general. Search above, or expand a topic. Figures are current as of 2026 — always confirm specifics with a lender.

    No matches. Try a different word.

    Using this app

    What this app does

    The mortgage tools are a set of calculators: escrow analysis, an amortization schedule, a full payment (PITI) estimate, an affordability/DTI solver, a refinance break-even, a side-by-side loan comparison, and a historical Treasury-rate lookup. You can use every calculator without an account; signing in adds saved scenarios and cross-device sync.

    Escrow Analysis tab

    Projects your escrow account 12 months out from a starting balance and monthly deposit, netting out tax and insurance disbursements. It flags a shortage or surplus versus the RESPA cushion and suggests a new monthly payment. You can import a CSV of servicer history to auto-fill disbursements, and export a CSV or a printable Annual Escrow Account Disclosure Statement.

    Amortization Schedule tab

    Enter a loan amount, rate, and term to see the full month-by-month (or yearly) split of principal vs interest, remaining balance, and total interest. Add a recurring extra payment, a one-time lump sum, or bi-weekly payments to see how much interest and time you save.

    Payment tab

    Estimates the full monthly payment — principal, interest, property tax, insurance, HOA, and PMI (PITI). Options include closing costs (with a roll-into-loan toggle), cash-to-close, property tax as a rate or dollar amount with a homestead exemption, and an estimated APR and full-term cost. It also notes when PMI is projected to drop off.

    Affordability tab

    Works backward from your income, debts, and down payment to a maximum home price, using front-end and back-end DTI limits. It shows which ratio is the binding constraint.

    Refinance tab

    Compares your current loan to a new one and computes the monthly change, the break-even month (how long until the savings cover the closing costs), and the lifetime cost difference. You can roll closing costs into the new loan or pay them upfront.

    Compare tab

    Puts two loan options side by side — different rates, terms, points, or fees — and shows the monthly payment, total interest, and the break-even between them. Useful for weighing a rate buydown (paying points) against a higher-rate, lower-cost option.

    T-Note Lookup tab

    Looks up a historical U.S. Treasury constant-maturity yield for a date (with a configurable lookback), rolling back to the previous business day on weekends and federal holidays. Data is bundled from the Federal Reserve / FRED so lookups are instant and offline. Reference only.

    Accounts, saving & syncing

    Optional sign-in unlocks saved scenarios (a full snapshot of every tab), autosave, and theme/accent sync. Other tools that work with or without an account:

    • Share link — copies a URL that reopens your exact inputs.
    • Backup & restore (Settings) — download all inputs as a JSON file and load it back later.
    • Reset to defaults (Settings) — restore every tab to factory values.
    • Forgot your password? Use the link on the sign-in screen; you will get an emailed reset link.

    How mortgages work

    Principal, interest & amortization

    A mortgage is repaid in equal monthly payments over a set term. Each payment covers that month’s interest first, and the rest reduces the principal (the balance you owe). Early on, most of the payment is interest; over time the principal share grows — this schedule is called amortization.

    Source: CFPB — Buying a house

    PITI: what’s in a payment

    Lenders think of your payment as PITI: Principal, Interest, Taxes, and Insurance. Property taxes and homeowners insurance are usually collected monthly into an escrow account and paid on your behalf. HOA dues and mortgage insurance may be added on top.

    Source: CFPB — Escrow accounts

    Down payment & loan-to-value (LTV)

    Your down payment is the cash you put in up front; the rest is the loan. LTV is the loan divided by the home’s value. A bigger down payment means a lower LTV, which usually means a better rate and no mortgage insurance (conventional loans avoid PMI at 80% LTV or lower — i.e. 20% down).

    Source: CFPB — Private mortgage insurance

    Escrow accounts (taxes & insurance)

    Your servicer collects 1/12 of your annual property tax and insurance each month and pays those bills when due. Federal law (RESPA) lets them keep a cushion of up to two months of payments and requires an annual escrow analysis; if costs rise you may see a shortage and a higher payment.

    Source: CFPB, HUD — RESPA

    PMI — when it starts and stops

    Private mortgage insurance protects the lender when you put down less than 20% on a conventional loan. Under the federal Homeowners Protection Act you can request cancellation at 80% LTV of the original value, and the servicer must automatically terminate it at 78% LTV (if you are current). It also ends at the loan’s amortization midpoint — 15 years into a 30-year loan.

    Source: CFPB — Removing PMI

    Closing costs

    One-time costs to finalize the loan — typically 2%–5% of the loan amount — covering origination, appraisal, title, recording, and prepaid escrow. Your lender must give you a Loan Estimate up front and a Closing Disclosure at least three business days before closing so you can compare.

    Source: CFPB — Loan Estimate

    Discount points (buying down the rate)

    A discount point costs 1% of the loan amount and lowers your interest rate by a set amount. Paying points can lower your monthly payment; whether it pays off depends on how long you keep the loan (the break-even). The Compare tab helps you weigh this.

    Source: CFPB — Discount points

    APR vs interest rate

    The interest rate is the cost of borrowing the principal. The APR is broader — it rolls in points and certain fees to reflect the yearly cost of the loan, so it’s the better number for comparing offers.

    Source: CFPB — APR vs rate

    Debt-to-income (DTI) & qualifying

    DTI compares your monthly debt payments to gross monthly income. A common guideline is the 28/36 rule: housing ≤ 28% of income (front-end), total debt ≤ 36% (back-end). Lenders also follow the federal Ability-to-Repay rule; the old 43% DTI cap for a Qualified Mortgage has largely been replaced by a price-based (APR) test.

    Source: CFPB — DTI, CFPB — QM rule

    Types of mortgages

    Fixed-rate

    The interest rate never changes, so principal-and-interest stays the same for the whole term. Predictable and simple; the most common choice. A 30-year term means lower payments but more total interest than a 15-year.

    Source: CFPB — Loan options

    Adjustable-rate (ARM)

    The rate is fixed for an intro period (e.g. 5 years in a 5/6 ARM), then adjusts periodically based on an index plus a margin, within periodic and lifetime caps. Lower to start, but the payment can rise. Know your caps before choosing one.

    Source: CFPB — Home Loan Toolkit (ARMs)

    Conventional: conforming vs jumbo

    A conventional loan isn’t government-backed. If it’s within the annual conforming limit set by the FHFA it can be sold to Fannie Mae/Freddie Mac; above that it’s a jumbo loan (stricter terms). For 2026 the baseline one-unit limit is $832,750 (up to $1,249,125 in high-cost areas).

    Source: FHFA — 2026 conforming loan limits

    FHA loans

    Insured by the Federal Housing Administration and popular with first-time and lower-credit buyers. Key points:

    • Down payment: as low as 3.5% with a credit score of 580+ (10% for scores 500–579).
    • Mortgage insurance (MIP): an upfront premium of 1.75% of the loan (usually financed) plus an annual premium (commonly ~0.55%) paid monthly.
    • Duration: if you put down less than 10%, annual MIP lasts the life of the loan; with 10%+ down it drops off after 11 years. Many borrowers refinance to a conventional loan to shed MIP once they have 20% equity.
    • 2026 limits: floor $541,287 for one unit, up to $1,249,125 in high-cost areas.

    Source: HUD — FHA loans, CFPB — FHA vs conventional

    VA loans

    Guaranteed by the Dept. of Veterans Affairs for eligible service members, veterans, and surviving spouses. Often 0% down, no monthly mortgage insurance, and competitive rates. Most borrowers pay a one-time VA funding fee (which can be financed); some are exempt.

    Source: VA — Home loans

    USDA rural loans

    Backed by the U.S. Dept. of Agriculture for buyers in eligible rural and some suburban areas. 0% down, with income limits (generally ≤ 115% of the area median income). Costs include a 1% upfront guarantee fee and a 0.35% annual fee.

    Source: USDA — Rural housing loans

    Refinancing: rate-and-term vs cash-out

    A rate-and-term refinance replaces your loan to get a lower rate or different term. A cash-out refinance borrows more than you owe and gives you the difference in cash, tapping your equity. Both have closing costs — use the Refinance tab to find the break-even.

    Source: CFPB — Refinancing

    Glossary

    Amortization

    The schedule by which a loan is paid off in equal payments, with interest front-loaded and principal growing over time.

    APR (annual percentage rate)

    The yearly cost of a loan including interest plus points and certain fees — the best number for comparing offers.

    Equity

    The part of the home you own outright: current value minus what you still owe.

    Escrow / impound account

    An account your servicer uses to collect and pay property taxes and insurance on your behalf.

    LTV (loan-to-value)

    The loan balance divided by the property value, as a percent. Lower LTV generally means better terms.

    MIP / PMI

    Mortgage insurance that protects the lender when the down payment is small — MIP on FHA loans, PMI on conventional loans.

    Origination

    The process (and fees) of creating a new loan.

    Points

    Upfront charges equal to 1% of the loan each; discount points buy a lower rate.

    Principal

    The amount you borrow (and still owe), separate from interest.

    Underwriting

    The lender’s review of your income, assets, credit, and the property to decide whether to approve the loan.

    This guide is general educational information, not financial, legal, or tax advice, and it is not a loan offer. Figures such as loan limits and insurance premiums change and vary by lender and location — verify current numbers with the official sources linked above and a licensed professional before making decisions.

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