How our calculators work

Affordability

We start with your household income and apply a 36% debt-to-income ceiling — a standard lending guideline, not a Kinship-specific rule. About 78% of that ceiling is treated as available for principal and interest, leaving room for other obligations. That monthly payment, at your chosen rate and term, tells us the loan amount; adding your down payment gives the home price.

This does not account for your other monthly debts, property tax, homeowner's insurance, HOA dues, or mortgage insurance — all of which affect what you can actually afford. It's a starting estimate, not a pre-approval.

Refinance

Your new monthly payment is a standard fixed-rate amortization calculation at the new rate and term you enter. Monthly savings (or increase) is simply the difference between that and your current payment. Break-even is closing costs divided by monthly savings — how many months until the refinance pays for itself. The 5-year net is monthly savings over 60 months, minus closing costs, so the decision isn't reduced to "monthly savings" alone.

Both payments are calculated over the term you choose — not your loan's actual remaining term — and cash-out is out of scope for this calculator; see Cash-Out & Equity Calculator for that separately.

Cash-out & equity

Equity is simply home value minus what you owe. The 80% loan-to- value cap on cash-out is a standard lending guideline, not a Kinship-specific rule — real caps vary by loan program and lender.

The comparison shows two different loans on purpose. A cash-out refinance recalculates your payment on your entire new balance (existing debt plus the cash you take) at the cash-out rate you enter. A HELOC or home equity loan leaves your current mortgage payment untouched — calculated at your current rate over the standard term — and adds a separate loan just for the cash amount, at its own rate and term. Both payments use the term you choose, not either loan's actual remaining term.

Comparing loan programs

The comparison tool holds home price and rate constant and varies only each program's own down-payment and mortgage-insurance structure — the well-established, publicly published federal terms, not a Kinship-specific rate: FHA's 1.75% upfront and 0.55% annual mortgage insurance premium, VA's 2.15% funding fee, USDA's 1% upfront and 0.35% annual guarantee fee, and an estimated 0.5% annual PMI on conventional loans under 20% down. Actual rates vary by loan amount, credit, and LTV — these are representative figures, not a quote.

What none of our calculators model

Monthly debts beyond the mortgage itself, property tax, insurance premiums, HOA dues, appraisal outcomes, escrow adjustments, and program-specific fees. We walk through the complete picture with you before you apply — these tools exist to get you to that conversation with real numbers already in hand, not to replace it.