Variable Mortgage Cost Calculator
Approximate the total cost of a mortgage with an initial rate period and an adjusted rate, including annual insurance and optional prepayments.
Simplified estimate; real mortgages use amortization and additional fees.
Examples
- $200,000 loan, 3.5% for 5y then 5% for 25y, $800 insurance, $10,000 prepayment ⇒ $499,000
- $150,000 loan, 4% for 3y then 6% for 27y, $600 insurance, $5,000 prepayment ⇒ $424,000
FAQ
Does this include amortization?
No, it provides a simplified cost without compounding.
How are prepayments applied?
They are subtracted directly from the total cost.
Can insurance be zero?
Yes, set insurance to 0 if not applicable.
Additional Information
- Variable-rate mortgages often change after an initial period.
- Prepaying principal reduces total interest and insurance paid.