🏠 Buying a Home
Buying a home is the biggest financial decision most people ever make, and the numbers behind it are easy to get wrong. This guide walks through the purchase in order — from working out what a loan really costs each month, to seeing how much of every payment goes to interest, to tracking the equity you build over time.
1. Work out your monthly payment
Start with the mortgage calculator to see your monthly principal-and-interest payment for any price, down payment, rate and term. Try a few rate scenarios — even 0.5% changes the total cost by thousands.
2. See where every payment goes
An amortization schedule shows how each payment splits between interest and principal, month by month. Early on, most of your money goes to interest — seeing the schedule makes extra-payment strategies obvious.
3. Plan the equity you will build
Home equity is the part of the home you actually own. Track how it grows as you pay down the loan and as the property value changes, and see how much you could borrow against it later.