Question 1

How is my monthly mortgage payment calculated?

Accepted Answer

Your monthly payment is based on your loan amount (home price minus down payment), interest rate, and loan term. We use the standard amortization formula and add estimated property tax, home insurance, HOA fees, and PMI if your down payment is under 20%.

Question 2

What is the 50/30/20 budgeting rule?

Accepted Answer

The 50/30/20 rule suggests spending 50% of your take-home pay on needs, 30% on wants, and 20% on savings and debt repayment. Our budget planner helps you see how your spending compares.

Question 3

Is the calculator free to use?

Accepted Answer

Yes. Both the budget planner and mortgage calculator are completely free, require no signup, and run entirely in your browser, so your numbers stay private.

Question 4

How much house can I afford?

Accepted Answer

A common guideline is that your total monthly mortgage payment should stay under 28% of your gross monthly income. Use the mortgage calculator to test different home prices and down payments against your budget.

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