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Mortgage IQ

Financeby Layer 3 Labs
Open in ChatGPTWebsite
Launched Feb 27, 2026 on ChatGPT

Calculate your exact monthly mortgage payments instantly with live data. This interactive calculator goes beyond the basics to pull real-time interest rates directly from the Federal Reserve, ensuring your estimates are always perfectly accurate to the market.

Visualize your home-buying budget with detailed, easy-to-read charts that break down your exact costs—principals versus interest—over the entire lifespan of your term. Plan your financial future clearly, test different purchase prices, and generate customized amortization schedules in seconds.

1ChatGPT Tools
Layer 3 LabsDeveloper
FinanceCategory

Available Tools

Mortgage-calculator

mortgage-calculator
Full Description

Use this for mortgage planning. It pulls live FRED rates, lets you adjust assumptions, and visualizes payments and amortization. It will also open for general prompts (e.g., 'calculate my mortgage') and start with sensible defaults if no numbers are provided. Do not use for unrelated financial products like auto loans or credit cards.

Parameters (0 required, 6 optional)
Optional
down_payment_valuenumber

Down payment in dollars (not percent). If the user says '20% down' and home_value is known, compute value = home_value * 0.20. Accept '$25,000 down', '25k down'.

home_valuenumber

Home purchase price (a.k.a. home price, house price, property price, purchase price, list price). Extract dollar amounts like '$500,000', '500k', '0.5m'.

loan_typestring

Loan program type. Choose one of: conventional, FHA, VA, USDA. Natural language hints: 'FHA loan', 'VA mortgage'.

Options:conventionalFHAVAUSDA
rate_aprnumber

Interest rate APR as a percentage number, e.g., 6.5 for 6.5%. Extract from phrasing like 'rate 5.75%', 'APR 6.2', 'at 6%'.

term_yearsnumber

Loan term in years. Extract from phrases like '30-year fixed', '15 yr', '20 year'.

zip_codestring

Optional ZIP/postal code. Prefer 5-digit US ZIP if present in the user text.

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