{
  "slug": "mortgage",
  "title": "Mortgage Calculator",
  "heading": "Mortgage Calculator",
  "category": "financial",
  "url": "https://www.revenuelab.fyi/toolbox/mortgage",
  "summary": "Estimate your monthly mortgage payment, total interest, and payoff.",
  "description": "Estimate the monthly payment on a home loan from price, down payment, interest rate, and term. Includes total interest paid over the life of the loan.",
  "formula": "Monthly payment = P × r / (1 − (1+r)^−n), where r is the monthly rate and n is months.",
  "dateModified": "2026-10-03",
  "run_url": "https://www.revenuelab.fyi/api/public/calc?tool=mortgage",
  "inputs": [
    {
      "id": "price",
      "label": "Home price",
      "kind": "number",
      "hint": null,
      "default": 400000,
      "unit": "$",
      "min": 0,
      "max": null
    },
    {
      "id": "down",
      "label": "Down payment",
      "kind": "number",
      "hint": null,
      "default": 80000,
      "unit": "$",
      "min": 0,
      "max": null
    },
    {
      "id": "rate",
      "label": "Interest rate",
      "kind": "number",
      "hint": null,
      "default": 6.75,
      "unit": "%",
      "min": 0,
      "max": null
    },
    {
      "id": "years",
      "label": "Loan term",
      "kind": "number",
      "hint": null,
      "default": 30,
      "unit": "years",
      "min": 1,
      "max": 50
    }
  ],
  "outputs": [
    {
      "id": "monthly",
      "label": "Monthly payment",
      "format": "currency",
      "hint": null,
      "primary": true
    },
    {
      "id": "loanAmount",
      "label": "Loan amount",
      "format": "currency",
      "hint": null,
      "primary": false
    },
    {
      "id": "totalInterest",
      "label": "Total interest",
      "format": "currency",
      "hint": null,
      "primary": false
    },
    {
      "id": "totalPaid",
      "label": "Total paid",
      "format": "currency",
      "hint": null,
      "primary": false
    }
  ],
  "worked_example": {
    "inputs": [
      "Home price: 400000 $",
      "Down payment: 80000 $",
      "Interest rate: 6.75 %",
      "Loan term: 30 years"
    ],
    "outputs": [
      "Monthly payment: $2,075.51",
      "Loan amount: $320,000.00",
      "Total interest: $427,185.01",
      "Total paid: $747,185.01"
    ]
  },
  "how_to": {
    "title": "How to use this",
    "steps": [
      "Enter the home price you're considering.",
      "Down payment goes here — 20% avoids PMI in most cases.",
      "Punch in the rate your lender quoted (or today's average for a gut-check).",
      "Pick your term — 30-year keeps it low, 15-year cuts interest in half.",
      "Add ~1–2% of home value/year for taxes + insurance — those aren't included here."
    ]
  },
  "scenarios": [
    {
      "name": "Starter home · 30yr · 7%",
      "description": "$350k, 10% down.",
      "values": {
        "price": 350000,
        "down": 35000,
        "rate": 7,
        "years": 30
      }
    },
    {
      "name": "Median home · 30yr · 6.75%",
      "description": "$400k, 20% down.",
      "values": {
        "price": 400000,
        "down": 80000,
        "rate": 6.75,
        "years": 30
      }
    },
    {
      "name": "Aggressive 15yr · 6%",
      "description": "Pay it off in half the time.",
      "values": {
        "price": 400000,
        "down": 80000,
        "rate": 6,
        "years": 15
      }
    },
    {
      "name": "Luxury · jumbo · 7.25%",
      "description": "$800k, 20% down.",
      "values": {
        "price": 800000,
        "down": 160000,
        "rate": 7.25,
        "years": 30
      }
    }
  ],
  "limitations": [
    "Results are estimates before tax, fees, and inflation unless an input explicitly covers them.",
    "Rates are treated as fixed for the whole period — variable-rate products will drift from this projection.",
    "This is educational maths, not financial advice. Check anything contractual with the lender or your accountant."
  ],
  "faq": [
    {
      "q": "Does this include taxes and insurance?",
      "a": "No — this is principal and interest only. Add 1–2% of home value annually for taxes + insurance estimates."
    }
  ],
  "related": [
    "https://www.revenuelab.fyi/toolbox/amortization",
    "https://www.revenuelab.fyi/toolbox/loan",
    "https://www.revenuelab.fyi/toolbox/auto-loan"
  ],
  "license": "CC-BY-4.0",
  "citation": "RevenueLab — Mortgage Calculator (https://www.revenuelab.fyi/toolbox/mortgage)"
}