To determine how much house you can afford in 2026, mortgage lenders rely on two standard debt-to-income (DTI) benchmarks known as the 28/36 rule: your monthly housing costs should not exceed 28% of your gross monthly income, and your total monthly debt obligations should not exceed 36%. For a household earning $100,000 annually ($8,333 per […]

The choice between a 15-year and a 30-year fixed-rate mortgage is a fundamental trade-off between monthly cash flow flexibility and total lifetime interest expense. On a typical $300,000 loan balance at 2026 benchmark rates (6.05% for 15-year fixed vs. 6.87% for 30-year fixed), choosing a 15-year term saves $252,180 in cash interest over the life […]

Extra mortgage payments accelerate debt elimination by applying 100% of additional funds directly toward your loan’s principal balance rather than accrued interest. Because standard amortizing mortgages calculate monthly interest based on the outstanding principal balance, reducing that balance ahead of schedule permanently shrinks the interest charged in every subsequent month. On a $350,000 30-year fixed […]

PITI stands for Principal, Interest, Taxes, and Insurance—the four core components that make up your total monthly housing cost. While standard loan advertisements display only Principal and Interest (P&I), mortgage lenders require the complete PITI calculation to underwrite your loan and manage your monthly escrow account. On a typical $350,000 home purchase with 10% down […]