Mortgage Calculator
Design your financial fortress. Calculate monthly construction costs, total stone masonry from interest, and your complete blueprint schedule to build your castle of homeownership.
Basic Mortgage Calculator
Enter values and click "Calculate" to see results
How to Use the Mortgage Calculator
Choose Your Blueprint
Select the architectural plan that fits your castle: Basic construction, renovation, affordability assessment, or investment stronghold.
Gather Your Building Materials
Assemble your construction supplies - property value, foundation investment, stone quality, and construction timeline.
Inspect Your Fortress
Click "Calculate" to examine your monthly construction costs, total stonework expenses, and complete architectural timeline.
The Strategic Guide to Mortgages
A mortgage is likely the most significant financial commitment you will ever make. It is not just a monthly bill; it is a complex financial instrument that, when leveraged correctly, can build comprehensive wealth. Conversely, a poorly structured mortgage can become a financial burden.
This calculator is designed to strip away the complexity. By visualizing your amortization schedule and experimenting with different scenarios—like shorter terms, lower rates, or extra payments—you can architect a loan that fits your life, rather than building your life around a loan.
Anatomy of a Mortgage
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Collateral Your home secures the loan. If you default, the lender has the right to take possession through foreclosure.
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P.I.T.I. Your monthly payment often includes four parts: Principal, Interest, Taxes, and Insurance.
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Equity The portion of the home you truly "own." It increases as you pay down principal and as the home value appreciates.
Choosing Your Weapon: Loan Types
The "safe bet." Your rate never changes, locking in your housing cost for 15 or 30 years. Best for long-term homeowners who value stability.
Starts with a lower rate that resets annually after a fixed period (e.g., 5 or 7 years). Best for those who plan to move or refinance quickly.
Government-backed loans allowing for lower down payments (as low as 0-3.5%) but often requiring mortgage insurance.
3 Strategies to Save Thousands
The "One Extra" Method
Making just one extra full mortgage payment per year (or paying bi-weekly) can shave 4-5 years off a 30-year term and save massive interest.
The 20% Rule
Aim for a 20% down payment to avoid Private Mortgage Insurance (PMI), which is essentially wasted money protecting the lender, not you.
Refinance Ruthlessly
Monitor rates. If rates drop by 0.75% - 1% below your current rate, refinancing could lower your monthly payment or help you finish the loan faster.
Mortgage Questions Answered
How much house can I afford?
A common rule of thumb is the 28/36 rule: Your housing costs should not exceed 28% of your gross monthly income, and your total debt payments (house + car + students loans) should not exceed 36%.
What are Closing Costs?
These are fees paid at the end of the transaction, typically 2-5% of the loan amount. They cover appraisal, title search, origination fees, and prepaid property taxes. Always ask for a "Loan Estimate" to see these detailed.
What is Escrow?
An escrow account is a "holding tank" managed by your lender. Part of your monthly payment goes here to pay your property taxes and home insurance automatically when they are due, ensuring you never miss those critical bills.