Housing & Real Estate
Navigate renting vs buying, understand mortgages, and make smart housing decisions.
12 Lessons
3 Tools
8 Key Concepts
Key Concepts
rent
Monthly payment to live in a property you don't own. Typically shouldn't exceed 30% of your gross income.
mortgageA loan specifically for buying real estate. The property serves as collateral—if you don't pay, the bank can take the house.
down paymentThe upfront cash you pay when buying a home. Typically 3-20% of the purchase price. Larger down payments mean smaller loans.
PMIPrivate Mortgage Insurance - extra monthly payment required if your down payment is less than 20%. Protects the lender, not you.
closing costsFees paid when finalizing a home purchase: appraisal, title insurance, attorney fees. Typically 2-5% of the loan amount.
security depositMoney paid upfront when renting that covers potential damages. Usually 1-2 months' rent, returned when you move out if no damage.
home equityThe portion of your home you actually own. Home value minus remaining mortgage. Builds over time as you pay down the loan.
house hackingLiving in a property while renting out part of it to offset your housing costs. Great way to start real estate investing.
Lessons
View allSecurity Deposits: Protect Your Money
Foundations4 min
First-Time Homebuyer Guide: From Renting to Owning
Foundations5 min
Rent vs. Buy: The Real Math
Building7 min
Saving for a House: Your Down Payment Strategy
Building6 min
Mortgages 101: Understanding Your Biggest Loan
Building7 min
Real Estate Investing: Beyond Your Primary Home
Wealth8 min
Understanding Your First Lease: A Line-by-Line Guide
Foundations5 min
Understanding Mortgages: Types, Terms, and How to Choose
Building7 min
Car Buying Guide: How to Get a Good Deal Without Getting Ripped Off
Foundations5 min
Auto Loan Strategies: Getting the Best Rate and Terms
Building7 min
Leasing vs Buying a Car: Which Makes More Financial Sense?
Wealth8 min
Home Maintenance Budgeting: The Hidden Costs
Building5 min