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Mortgage Calculator

Estimates monthly mortgage payments based on property price, down payment, interest rate, and loan term.

MCP tool name

calculate_mortgage

Parameters

price
number
required
Property purchase price.
downPaymentPercent
number
default:"20"
Down payment as percentage.
interestRate
number
default:"6.5"
Annual interest rate.
loanTermYears
number
default:"30"
Loan term in years.
includePropertyTax
boolean
default:"true"
Include estimated property tax.
includeInsurance
boolean
default:"true"
Include estimated insurance.

Example

“What would my monthly payment be on a $500k home with 10% down?”

Response

Returns a breakdown:
FieldExample
Monthly payment (P&I)$2,846
Down payment$50,000
Loan amount$450,000
Est. property tax$520/mo
Est. insurance$150/mo
Total monthly$3,516
The tool uses standard amortization formulas. Property tax and insurance are estimated at national averages (1.25% and 0.35% of home value annually) unless overridden.