About CalcWise
What is CalcWise?
CalcWise is a free collection of financial calculators built specifically for US homebuyers and borrowers. Every calculator is designed to give you a complete, honest picture — not just a single number, but the math behind it explained in plain English.
We cover the full journey of buying a home: figuring out how much you can afford, estimating your monthly mortgage payment, understanding closing costs, comparing renting versus buying, calculating loan payoff timelines, and evaluating whether refinancing makes sense.
All of our tools are completely free to use and always will be. No signup, no account, no paywall.
Why we built this
Most online mortgage calculators show you a monthly payment and stop there. They don't explain what's included, what's not, or how changing one variable affects everything else. Many are designed to capture your contact information and funnel you to lenders — not to actually help you understand your numbers.
We built CalcWise because buying a home is one of the biggest financial decisions most people ever make — and you deserve to understand the numbers before you sign anything. A 30-year mortgage at 7% on a $400,000 home means you'll pay over $550,000 in total — more than $150,000 in interest alone. That's a number worth understanding before you commit.
Our goal is simple: give you the clearest possible picture of what homeownership actually costs, with no strings attached.
Who this is for
CalcWise is built for anyone thinking about buying a home in the United States — whether you're just starting to explore your options or you're actively shopping for a mortgage. Specifically:
- First-time homebuyers who want to understand affordability before talking to a lender
- Existing homeowners evaluating whether to refinance or how to pay off their mortgage faster
- Renters deciding whether buying makes financial sense for their situation
- Anyone who wants to understand how mortgage math works — not just get a number
Our calculators are also used by real estate agents, financial educators, and personal finance bloggers who want clear, accurate tools to share with their audiences.
How our calculators work
We use standard US mortgage industry formulas and publicly available data sources:
- Mortgage payments — calculated using the standard amortization formula: M = P[r(1+r)^n] / [(1+r)^n − 1], where P is the loan amount, r is the monthly interest rate, and n is the number of payments
- Property tax estimates — based on state-level average effective tax rates from US Census Bureau and Tax Foundation data
- Home insurance estimates — based on national averages from Insurance Information Institute data, adjusted by state
- Closing cost estimates — follow standard industry guidelines of 2–5% of purchase price, broken down by typical line items
- DTI calculations — follow conventional lending guidelines established by Fannie Mae and Freddie Mac (28% housing ratio, 43% total DTI)
- PMI estimates — based on typical PMI rates of 0.5–1.5% of loan amount annually, which vary by lender and borrower profile
All calculations run entirely in your browser. The numbers you enter are never sent to any server, stored, or shared with anyone. Your financial data stays on your device.
What we don't do
CalcWise is not a mortgage lender, broker, or financial advisor. We don't collect your information to connect you with lenders. We don't offer personalized financial advice. Our calculators are estimation tools — they give you a solid starting point, but your actual loan terms will depend on your credit score, the specific lender you work with, your local market, and many other factors.
The results you see here are meant to help you ask better questions when you sit down with a mortgage professional — not to replace that conversation.
Our blog
Beyond the calculators, we publish in-depth guides on topics that US homebuyers and borrowers search for most. Our articles cover mortgage math, affordability by income level, closing costs, the rent vs. buy decision, and more.
Every article is written to be genuinely useful — with real numbers, clear explanations, and no fluff. We don't write for search engines; we write for people who have a real question and want a real answer.
Browse the blog →Disclaimer
CalcWise calculators and articles are for educational and estimation purposes only. Results are based on the inputs you provide and general assumptions — they are not financial advice. Actual loan terms, rates, taxes, and costs will vary based on your specific situation, lender, location, and market conditions.
Always consult with a licensed mortgage professional, financial advisor, or tax professional before making financial decisions. See our full Terms of Service for more information.
Contact us
Found a bug? Have a suggestion for a new calculator or article? We'd love to hear from you.
Email us at valentinzhizajn@gmail.com — we read every message and respond to most within a few days.