Terms of Use

Last updated October 11, 2026.

General information only

General information only. These calculators give estimates based on the numbers you enter. They are not a loan offer, rate quote, pre-approval, financial, tax or legal advice. We are not a lender, broker or financial adviser, and we do not rate or recommend lenders or products. Your actual payment, costs and eligibility depend on your lender, your credit, your property and the terms in your Loan Estimate and Closing Disclosure. Check any figure with your lender or a qualified professional before you make a decision.

Results

Estimate only, based on your inputs. Payments are rounded up to the next cent, so they may differ from your lender’s by a cent or more. Results may be inaccurate. The payment, amortization, refinance and HELOC maths has been checked against published government examples and two independent implementations; affordability and rent vs buy are simplified models with assumptions you can edit. Starting values on the calculators are examples, not current rates, averages or quotes.

Notes on each calculator

• Payment and amortization. Principal and interest only unless you add taxes, insurance, PMI and HOA. Fixed rate. Real servicers may credit extra payments at different times.
• PMI. The federal Homeowners Protection Act covers only single-family principal residences with loans closed on or after July 29, 1999. It does not cover FHA or VA loans or lender-paid mortgage insurance, and “high-risk” loans are treated differently. FHA mortgage insurance (MIP) is different: depending on the loan, it lasts 11 years or the loan term. These calculators do not model FHA mortgage insurance, VA funding fees or USDA fees.
• Refinance. Enter principal and interest only for your current payment. This is not a Loan Estimate and shows no APR. Break-even ignores taxes and assumes you keep the new loan at least that long. If the closing costs are added to the loan, only the interest break-even applies. A longer new term can lower the payment and still cost more in total interest. Enter your own rate and closing costs: this site does not show current rates.
• Cash-out refinance. The maximum loan-to-value limit is a setting you control (default 80%). Not every property or program allows the same limit: lenders and programs set their own, and cash-out limits are usually lower for 2 to 4 unit homes, second homes and investment properties than for a one-unit main home.
• HELOC and home equity loan. HELOC rates usually change over time. This shows one rate per phase that you enter. Interest-only payments do not reduce what you owe, and some plans require a balloon payment when the draw period ends. Your home is collateral: if you cannot repay, you could lose it.
• Closing costs. Every number comes from you. Fees, taxes and prepaid items vary by lender, state and county. Prepaid interest uses a 360-day or 365-day year, whichever you choose; lenders differ. Use the figures on your Loan Estimate.
• Affordability. 28/36 is a common rule of thumb, not a lending rule. Lenders set their own limits: Fannie Mae allows total debt-to-income up to 36% manually underwritten (up to 45% or 50% in some cases) and FHA manual underwriting uses 31/43. Taxes and insurance are included only if you enter them, so leaving them blank overstates the price. This is an estimate, not a pre-approval.
• Rent vs buy. A what-if based on assumptions you can change; the starting values are examples, not forecasts. Taxes are not included. Selling a main home can be partly tax-free in the US (IRS Topic 701), mortgage-interest deductions depend on whether you itemise, and investment returns may be taxed. Property tax, maintenance and returns are your assumptions. Small changes in home price growth, rent growth or investment return can move the break-even by years or flip the answer.

Using the site

You may use the calculators for your own personal use. The site is provided as it is, without any promise that it is accurate, complete or always available. You are responsible for decisions you make using it. Links to other sites, if any, are for convenience and we are not responsible for them.

Governing law

These terms are governed by the laws of New South Wales, Australia.

Contact

Questions about these terms: hello@homeowncalculator.com.