Home Loan Tools

Your Home.
Your Equity. Your Terms.

Calculate mortgage payments, explore reverse mortgages, and unlock the power of your home equity — all in one place.

🏠 Mortgage

Mortgage Payment Calculator

Get your full PITI (Principal, Interest, Tax, Insurance) monthly payment.

Monthly P&I
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Total Monthly PITI
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Total Interest Paid
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Total Cost of Home
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Monthly Payment Breakdown
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P&I
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Taxes
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Insurance
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PMI
MonthPaymentPrincipalInterestBalance

Mortgage Early Payoff Calculator

See how many years and dollars you save by paying extra each month.

New Payoff Date
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Years Saved
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Interest Saved
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✦
One Extra Payment Per Year
Making one extra mortgage payment per year — by dividing your monthly payment by 12 and adding that to each monthly payment — can cut 4–5 years off a 30-year mortgage and save tens of thousands in interest.

How Much Home Can I Afford?

Based on the 28/36 rule, find your true home buying budget.

Max Home Price
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Max Monthly Payment
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Debt-to-Income Ratio
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0%28% (Front-end limit)36% (Back-end limit)50%
  • Credit score requirements — Conventional loans typically require 620+; FHA loans accept 580+ (with 3.5% down) or 500+ (with 10% down); VA and USDA loans have no official minimum but lenders usually require 620+.
  • Pre-approval vs. pre-qualification — Pre-qualification is informal; pre-approval requires verified income/assets and is taken seriously by sellers. Always get pre-approved before house hunting.
  • Fixed vs. adjustable rate — Fixed rates stay constant for the loan term. ARMs (adjustable) start lower but can rise significantly after the initial period. In a high-rate environment, many buyers prefer fixed.
  • Points and buydowns — Paying "points" (1 point = 1% of loan amount) upfront permanently lowers your rate. Calculate the break-even point: if you'll stay 5+ years, buying down your rate often makes sense.
  • Closing costs — Budget 2–5% of the purchase price for closing costs: origination fees, title insurance, appraisal, prepaid taxes/insurance, etc.
  • Bi-weekly payments — Pay half your mortgage every two weeks instead of monthly. You make 26 half-payments (13 full payments) per year, cutting years off your loan.
  • Round up or add a fixed amount — Adding $100–$300/month to principal alone can shave 5–8 years off a 30-year mortgage.
  • Refinance to a 15-year term — Higher monthly payment, but dramatically less total interest. Rates on 15-year mortgages are typically 0.5–0.75% lower than 30-year.
  • Lump-sum payments — Annual bonuses or tax refunds applied directly to principal can have an outsized impact early in the loan lifecycle, when interest is at its highest.
  • Pros and cons of early payoff — Paying off a mortgage early eliminates the debt and builds peace of mind, but if your rate is low (under 4%), investing extra funds may yield higher returns. Evaluate your specific situation.

🔄 Reverse Mortgage

Reverse Mortgage Estimator

Get a rough estimate of your available HECM proceeds. Official amounts require a HUD-approved counselor and appraisal.

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Estimate Only — Requires HUD Counseling
This calculator provides a rough estimate based on simplified HECM (Home Equity Conversion Mortgage) formulas. Actual amounts depend on a current appraisal, prevailing interest rates, and a mandatory HUD-approved counseling session.
Home Equity
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Est. Available Proceeds
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Lump Sum Option (est. 60%)
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Monthly Tenure Payment (est.)
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  • No monthly payment required — Unlike a traditional mortgage, a reverse mortgage requires no monthly payment. The loan is repaid when you sell, move out, or pass away.
  • You retain title to your home — You remain the owner. The lender simply has a lien, just like a regular mortgage.
  • Must be your primary residence — You must live in the home as your primary residence. Moving out for 12+ consecutive months triggers repayment.
  • Interest accrues over time — Since no payments are made, interest compounds on the growing loan balance. Your equity decreases over time.
  • HECM vs. proprietary vs. single-purpose — HECM (FHA-insured) is the most common. Proprietary loans are for high-value homes. Single-purpose loans (from nonprofits/governments) are for specific uses like property taxes.
  • Age requirement — Must be 62 or older. The older you are, the more you can access, as your life expectancy affects the loan formula.
  • Equity requirement — You need substantial equity (typically 50%+). You must pay off any existing mortgage balance from the reverse mortgage proceeds first.
  • Myth: "The bank takes my house" — False. You retain title. Your heirs can pay off the loan balance and keep the home.
  • Myth: "I can owe more than my home is worth" — HECM loans are non-recourse. You or your heirs will never owe more than the home's fair market value at sale.
  • HUD counseling is mandatory — Before getting a HECM, you must complete a session with a HUD-approved housing counselor. This is a consumer protection, not a hurdle.
  • Impact on heirs — Your heirs have 12 months to settle the loan after your death — by selling the home, paying off the balance, or refinancing.
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When a Reverse Mortgage Makes Sense
If you are cash-poor but home-rich, plan to stay in your home long-term, and have no heirs or your heirs support the decision — a reverse mortgage can provide meaningful financial security in retirement. Consult a HUD-approved counselor before proceeding.

🏦 HELOC

HELOC Calculator

Calculate your available credit line, draw period payment, and full repayment cost.

Available Credit Limit
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Draw Period Payment (Interest Only)
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Repayment Period Payment
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Total Interest + Principal
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Variable Rate Risk
Most HELOCs carry variable interest rates tied to the prime rate. If rates rise significantly, your draw-period payments and overall cost can increase substantially. Factor in rate risk when planning your draw strategy.
  • A revolving line of credit secured by your home — Like a credit card, but your house is collateral. You can draw, repay, and draw again during the draw period.
  • Draw period — Typically 10 years. You can borrow up to your limit. Payments during this period are usually interest-only.
  • Repayment period — After the draw period, the line closes and you repay principal + interest over the repayment term (typically 10–20 years).
  • Variable rate — Most HELOCs are tied to the prime rate and adjust monthly. Your payment can change with market conditions.
  • How to qualify — Typically require 15–20% equity remaining after the HELOC, a credit score of 680+, and a DTI below 43%.
Feature HELOC Home Equity Loan Cash-Out Refi
Structure Revolving line Fixed lump sum New primary mortgage
Rate Type Variable Fixed Fixed or ARM
Best For Ongoing projects One-time expense Rate reduction + cash
Closing Costs Low/none Low High (2–5%)
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Best Uses for a HELOC
Home improvements (especially those that increase home value), debt consolidation (replacing 20%+ credit card rates with 8–10%), education funding, and emergency reserves. Your home is collateral — only borrow what you're certain you can repay.

ⓘ Interest Ninja home loan calculators use standard financial formulas and produce estimates only. Results do not account for all loan costs. Consult a licensed mortgage lender or HUD-approved counselor before making any home financing decisions.