Mortgage Info Tool

Understand your mortgage options before you sign

Mortgage Info Tool is a free educational resource that helps homeowners and buyers compare mortgage, refinance, and home-equity options in plain English — so you can make a confident, informed decision.

Explore the basics

Purchase loans

How down payment, term, and rate type affect your monthly payment and total cost over the life of the loan.

Refinancing

When refinancing makes sense, how to weigh closing costs against monthly savings, and what a break-even point means.

Home equity

The difference between a HELOC and a cash-out refinance, and how lenders look at loan-to-value.

What this site is

Mortgage Info Tool publishes straightforward educational guides about home financing. We are not a lender and we do not make credit decisions. Our goal is simply to help you understand the questions worth asking before you talk to a lender.

How rates and terms work

Your rate, loan term, and loan type together determine your payment. A shorter term usually means a lower rate but a higher monthly payment; a longer term lowers the payment but increases total interest. Understanding this trade-off is the first step to choosing well.

Before you apply

Check your credit, gather income and asset documentation, and compare offers from more than one lender. A few minutes of preparation can save you thousands over the life of a loan.