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Mortgage Basics
Start here if you are new to mortgages. These guides explain the fundamental concepts every homebuyer needs to understand before borrowing hundreds of thousands of dollars.
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Mortgage Basics
How Mortgages Work
A plain-English breakdown of what a mortgage is, how the loan is structured, and what happens from application to payoff.
Mortgage BasicsWhat Is PITI? The Four Parts of Your Mortgage Payment
PITI stands for Principal, Interest, Taxes, and Insurance. Learn what each component is and why lenders use PITI to assess affordability.
Mortgage BasicsAPR vs Interest Rate: What Is the Difference?
The interest rate is the cost of borrowing. APR includes fees. Learn why APR is a better comparison tool when shopping for a mortgage.
Mortgage BasicsAmortization Explained: How Your Loan Gets Paid Off
What amortization means, how an amortization schedule works, and how to use it to save money on your mortgage.
All Mortgage Basics Guides
How Mortgages WorkPrincipal vs. Interest: What Are You Actually Payaying?Mortgage Term Explained: 15, 20, or 30 Years?15-Year vs 30-Year Mortgage: Which Is Right for You?How Mortgage Interest Is CalculatedAmortization Explained: How Your Loan Gets Paid OffWhat Is PITI? The Four Parts of Your Mortgage PaymentAPR vs Interest Rate: What Is the Difference?Mortgage Points Explained: Should You Buy Down Your Rate?Discount Points vs. Origination Points: What Is the Difference?