Guides
Pick a course if you are starting from a situation. Search if you already have the question.
Courses
- First home0%Start with the sample, then see tax, insurance, PMI, and which of two offers costs less.16 lessons
- First car0%Price the car, then tax, a trade-in, insurance, fuel, and the two offers.14 lessons
- Debts you already owe0%Add each balance, see why a minimum can fail, and how extra money is split.11 lessons
- The whole month0%Put a home, a car, and debts into one number, without counting the car loan twice.10 lessons
- Which offer costs less0%Read the note rate and the APR, then compare two home offers or two car offers.9 lessons
Find a guide
Home40
- What a mortgage payment actually includesPrincipal and interest are only the loan. The housing number also holds property tax, homeowners insurance, PMI, and HOA.1 min
- Principal and interest in the first monthThe first payment is mostly interest because the balance is still the full loan. Principal is whatever is left of the payment.1 min
- Why the early years of a mortgage are mostly interestA level payment on a long loan spends the first years covering interest on a large balance. Equity builds slowly at the start.1 min
- How property tax changes the monthly housing numberYearly property tax is divided by twelve and added to the loan payment. The calculator does not look the tax up.1 min
- Homeowners insurance beside the loan paymentThe yearly homeowners policy is split into months and added to housing. The tool does not shop for a quote.1 min
- What PMI is on a conventional loanPMI is insurance the lender takes when the loan starts above 80% of the price. You type the monthly amount.1 min
- When you can ask the lender to remove PMIYou can ask when the balance reaches 80% of the original price. The calculator dates that month from the schedule.1 min
- When PMI ends on its ownAutomatic removal is at 78% of the original price, when payments are current. That month is separate from the day you can ask.1 min
- What 20% down does to PMIA down payment of 20% or more keeps PMI out of the housing payment. The PMI field is ignored in that case.1 min
- HOA dues in the monthly housing numberMonthly HOA is added in full. It does not pay down the loan, and it stays the same when you compare two offers.1 min
- APR versus the note rateThe note rate sets the payment and the balance. The APR is used only to estimate fees you pay up front.1 min
- When a lower mortgage rate still costs moreA lower note rate can come with higher upfront fees. Over a short hold, the fees can outweigh the interest you save.1 min
- How to compare two mortgage offersPut each lender’s note rate and APR on the same loan amount and term. The cheaper offer is fees plus interest over the years you plan to keep it.1 min
- Lender fees are treated as paid up frontPoints and other prepaid finance charges are not added to the loan balance. They count on day one.1 min
- How the APR gap becomes a dollar feeThe payment is built from the note rate. The APR then implies how much of the loan was not really financed.1 min
- A 15-year mortgage versus a 30-year mortgageThe shorter term raises the loan payment and cuts the interest. Housing costs around the loan stay the same.1 min
- How to read the mortgage balance chartThe chart is the remaining loan balance after each payment. It is not the housing total and it is not your equity.1 min
- How to read the yearly mortgage tableEach row is twelve payments: principal, interest, the balance at year end, and interest added up from the start.1 min
- How amortization shrinks the balanceEvery month interest is charged on what is left, then the rest of the level payment reduces the balance.1 min
- Escrow is the same tax and insurance dollarsAn escrow account is how the servicer collects tax and insurance. Type those yearly bills. Do not add escrow as a third cost.1 min
- What the mortgage calculator leaves outNo live rates, no tax lookup, no FHA insurance, and no fees added to the loan balance. You type the amounts.1 min
- FHA mortgage insurance follows a different ruleThe 80% ask and the 78% automatic end are conventional PMI. FHA insurance is not calculated here.1 min
- Typing your own tax and insuranceThe yearly fields are your estimates. The calculator divides each by twelve and adds them to the loan.1 min
- The loan payment is not the house paymentPrincipal and interest can look affordable while tax, insurance, PMI, and HOA make the month too tight.1 min
- Down payment and the amount borrowedThe loan starts at home price minus down payment. That principal is what the schedule pays off.1 min
- How long until the balance hits 80% of the priceThe calculator walks each payment until the balance is at or under 80% of the original price, then names that month.1 min
- A loan that never reaches 80% of the priceIf the schedule finishes, a normal amortizing loan does reach any balance below the start. A warning means the inputs do not produce that path.1 min
- Holding a mortgage for seven yearsA seven-year hold counts interest for 84 months plus upfront fees. Interest after that is left out.1 min
- Break-even on a higher mortgage feeBreak-even is the first month the lower rate’s fees plus interest are no longer higher than the other offer.1 min
- Taxes, insurance, PMI, and HOA stay on both offersThe comparison keeps those four costs identical so the dollar gap is the loan, not the house.1 min
- Mortgage points as money paid todayA point is a fee at closing. In this calculator it shows up only through the gap between the note rate and the APR.1 min
- Quotes that show only principal and interestA payment that ignores tax, insurance, PMI, and HOA is the loan band. Put the other bills in their fields before you decide the house fits.1 min
- HOA dues and what is left of take-homeHOA is inside housing. Leftover is take-home minus housing, car, and debts, and it appears only after you type take-home.1 min
- The sample home on a first visitBefore you type a price, the screen shows a labeled example of a housing mix and a seven-year offer comparison. It is not your loan.1 min
- Saving a mortgage on your accountThe inputs stay on the phone as you type. Signing in keeps them on the account, including a mortgage you never marked with a separate save.1 min
- What to type before you compare lendersPrice, down payment, and term first. Then each lender’s note rate and APR. Hold period last.1 min
- Interest-only loans are not this scheduleThe mortgage schedule always applies principal. An interest-only period would leave the balance flat, and this tool will not draw that.1 min
- What extra years on a mortgage costLengthening the term lowers the payment and raises cumulative interest. The yearly table is where that cost shows up.1 min
- The month you owe less than you borrowedYou owe less than you borrowed after the first principal payment. The early drop is small because interest takes most of the payment.1 min
- Conventional PMI uses the original priceBoth the 80% request and the 78% automatic end are measured against the home price you typed, not a later value.1 min
Car30
- The car payment versus the cost of the carThe loan payment is only the financing. Insurance, registration, maintenance, and fuel are added on top.1 min
- Sales tax on the price minus the trade-inTax is the sales-tax percent times the price after trade-in is subtracted. The tax is then added to the amount financed.1 min
- The down payment on a car loanCash down reduces the amount financed. It is not a monthly cost.1 min
- Trade-in and the amount financedTrade-in lowers the price before tax and lowers the loan. It is a dollar credit, not a monthly payment.1 min
- Car insurance in the monthly totalInsurance is a monthly amount you type. It is added in full and it does not end when the loan ends.1 min
- Registration spread across the yearRegistration is a yearly amount divided by twelve. It is an ownership cost, not part of the loan.1 min
- Maintenance as a monthly amountMaintenance is a monthly estimate you type. It is added to the car month and left out of the loan schedule.1 min
- Fuel in the car monthFuel is a monthly amount you type. It continues whether or not the car is financed.1 min
- Comparing two car loan offersBoth offers use the same amount financed and the same term. The cheaper one is fees plus interest over the hold.1 min
- APR on a car loanThe note rate builds the car payment. The APR estimates lender fees paid up front and does not change the balance.1 min
- A longer car loan and more interestMore months lower the payment and raise the interest you pay if you keep the loan to the end.1 min
- Dealer quotes that leave ownership outMatch the dealer’s payment to the loan line, then add insurance, registration, maintenance, and fuel before you accept the month.1 min
- The car loan end dateThe payoff month is the length of the schedule. The household month states when the car loan ends.1 min
- A zero-interest car loanA note rate of zero makes every dollar of the payment principal. Check the APR anyway. The fee may not be zero.1 min
- Typing the car insurance you already payUse the monthly premium you pay now, or a quote for the car you are buying. The field is a month.1 min
- Why car insurance is not looked upThe calculator does not quote insurers. A typed premium keeps the month tied to a number you can point at.1 min
- The sales-tax rate you typeThe percent is yours. It applies to price minus trade-in, and the dollars are financed.1 min
- A car with no trade-inLeave trade-in at zero. Tax applies to the full price, and the loan is price minus down payment plus tax.1 min
- A large down payment on a carMore cash down lowers the loan payment and the interest. It does not lower insurance or fuel.1 min
- Fees on a car loan from the APR gapThe dollar fee is the loan minus the amount the APR would support for the same payment. It is paid at the start.1 min
- The first month of a car loanInterest in month one is the full amount financed times the monthly rate. Principal is the rest of the payment.1 min
- Yearly interest on a car loanThe yearly table sums principal and interest for each twelve months and keeps a running interest total.1 min
- When the car balance falls fastestThe balance falls fastest at the end of the loan, when interest is small and almost the whole payment is principal.1 min
- Ownership costs after the car loan endsInsurance, registration, maintenance, and fuel remain. The loan payment is the piece that stops.1 min
- A 60-month car loanSixty months is five years of level payments. The yearly table has five rows.1 min
- A 72-month car loanSeventy-two months lowers the payment and adds a sixth year of interest. Ownership per month stays the same.1 min
- Type the car price before sales taxThe price field is the vehicle price. Tax is calculated from it. Do not type a price that already includes tax unless the tax percent is zero.1 min
- A trade-in larger than the priceTaxable amount cannot go below zero. The extra trade-in still reduces the loan like cash.1 min
- Your car stays while you price anotherThe month keeps your car. A car you are considering is a separate estimate until you choose Use this car.1 min
- What the car calculator does not estimateNo resale value, no insurance quote, no state fee table, and no fees rolled into the balance unless you put them in the price.1 min
Debt20
- More than one balance in the same monthEach debt has a name, a balance, a rate, and a minimum payment. The month uses the ones with a balance above zero.1 min
- Minimum payments and how long payoff takesEach debt is paid with its minimum plus its share of any extra. The date is how many months that payment takes to reach zero.1 min
- A payment that does not cover interestIf the payment is not larger than a month of interest, the balance never falls. The date says the payment does not cover the interest.1 min
- Extra money is split by the minimumsAn extra monthly amount is shared across debts in proportion to each minimum payment. It is not sent entirely to the highest rate.1 min
- Interest with and without an extra paymentThe debt screen compares interest and time at your minimums with interest and time after the extra is split.1 min
- A credit card balance and rateType the balance you owe, the purchase APR as a yearly percent, and the minimum the statement asks for.1 min
- A personal loan beside the cardsA personal loan is another row: balance, rate, and the fixed payment. It shares the extra payment by the size of that payment.1 min
- Medical debt in the same listA medical bill is a row with a balance, a rate, and what you pay each month. A zero rate is allowed.1 min
- A student loan as one rowEach loan you want in the month needs its own balance, rate, and payment. Income-driven plans that change the payment are not modeled.1 min
- Naming a debt so the date is readableThe household month prints each debt’s name next to its payoff. Specific names keep those lines distinct.1 min
- Total paid versus the balanceTotal paid is the balance plus the interest. The gap between them is the cost of paying on that schedule.1 min
- Why a high rate still needs its minimumEvery row keeps its minimum. The extra is shared. A high rate does not automatically receive the whole extra.1 min
- Adding a second cardEach card is a row. The debt total becomes the sum of the minimums, and any extra is shared across all of them.1 min
- Removing a paid-off debtSet the balance to zero or delete the row. A zero balance leaves the month. Deleting the row removes it from the form.1 min
- Debts inside the household monthThe debt slice is the sum of minimums plus extra, for every row with a balance. It sits beside housing and the car.1 min
- An extra payment of zeroZero extra means each debt runs on the minimum you typed. That is a complete picture, not a missing field.1 min
- The six-hundred-month cap on a debtPayoff counting stops at 600 months. A debt still unpaid then has no finish date inside this tool.1 min
- A store card and a bank cardBoth are rows. The store card often has the higher rate and the smaller minimum, so it receives less of any shared extra.1 min
- Saving debts on the accountDebt rows stay on the phone. After you sign in, they are kept with the mortgage, the car, and take-home.1 min
- A balance is required before a debt countsThe month, the payoff list, and the “you have numbers” check all ignore a debt until its balance is above zero.1 min
The month10
- The month is the first screenWiseCalculator opens on the monthly picture. A home or a car is how you start. The form sits beside that picture on a wide screen.1 min
- Four tiles, in any orderMortgage, car, debt, and take-home can be filled in any order. The month adds a slice only when that tile has a number.1 min
- Leftover needs a take-home amountLeftover is take-home minus the month. Until you type take-home, the remainder stays hidden.1 min
- Do not count the car loan twiceThe car form includes the loan payment. If that same payment is also a debt row, say so. The month then keeps the loan once.1 min
- Car upkeep when the loan is already a debtUpkeep is insurance, registration, maintenance, and fuel. The loan payment stays on the debt tile.1 min
- The PMI date on the monthWhen PMI is in the housing payment, the month names when you can ask to remove it. That is 80% of the original price.1 min
- Payoff dates under the monthThe car loan end date and each debt’s end date sit under the month, next to the PMI line when that exists.1 min
- A first visit starts with a home or a carThe two actions are pricing a home and pricing a car. Debts and take-home are available. The sample stays labeled until you type.1 min
- Your numbers stay on the phoneMortgage, car, debt, and take-home are stored in the browser as you type. They are still there when you come back, on that phone.1 min
- An account keeps the calculatorsAfter a number exists, you can sign in with an email and password, or with Google. The account then keeps the mortgage, the car, the debts, and take-home.1 min