Mortgage Payment Calculator v6.2.2

Designed for: Homebuyers who want more than a number—they want to understand their complete obligation, find the right payoff strategy for their situation, and see how their mortgage fits into their bigger financial picture.

What This Tool Does Differently

Most mortgage calculators give you a number and stop. This tool functions as a diagnostic planning session:

• Validates what you're doing right before showing what to improve
• Recommends where to start instead of overwhelming you with options
• Shows wealth potential—what your interest savings could become if invested
• Connects to your bigger picture—linking your mortgage to financial independence
• Detects behavioral patterns and routes you to deeper assessments if needed

The Three Questions This Tool Answers

• What's my complete obligation? Total monthly cost with nothing hidden
• What's the fastest path to ownership? Personalized strategy recommendation
• What does debt-free mean for my life? Beyond numbers—the freedom it creates

Mathematical Foundation

All calculations use the standard amortization formula:

M = P[r(1+r)^n]/[(1+r)^n-1]

• M = Monthly payment (principal & interest)
• P = Principal (loan amount)
• r = Monthly interest rate (annual rate ÷ 12)
• n = Number of payments (years × 12)

Key Assumptions

• PMI: 0.5% of loan amount annually (industry average; actual rates 0.3%-1.5%)
• 15-Year Rate: Estimated 0.5% lower than 30-year rate
• Wealth Projections: 8% average annual return over 20 years post-payoff

Important Disclaimers

This tool provides educational estimates only. Your actual mortgage payment may vary based on lender requirements, exact tax assessments, insurance quotes, and other factors. Property taxes and insurance costs change over time. Consult with a mortgage professional for exact figures before making financial decisions.

About Future Millionaire Playbook

Created by Raymond Sura, CRPC®, EA. Visit FutureMillionairePlaybook.com for more financial tools and guidance.