Mortgage Calculator
Home Price ($):
Loan Term:
5 Years
10 Years
15 Years
20 Years
25 Years
30 Years
35 Years
40 Years
Downpayment ($):
Downpayment (%) :
Property Tax (Annual $):
Interest Rate (%):
HOA Dues ($/Monthly):
Homeowners Insurance ($/Annual):
Estimated Monthly Payment: $0.00
document.getElementById(‘mortgage-form’).addEventListener(‘submit’, function(event) {
event.preventDefault();
var homePrice = parseFloat(document.getElementById(‘homePrice’).value);
var term = parseInt(document.getElementById(‘term’).value) * 12; // Convert years to months
var downpayment = parseFloat(document.getElementById(‘downpayment’).value);
var propertyTax = parseFloat(document.getElementById(‘propertyTax’).value) / 12; // Monthly tax
var interestRate = parseFloat(document.getElementById(‘interestRate’).value) / 100 / 12; // Monthly interest
var hoaDues = parseFloat(document.getElementById(‘hoaDues’).value);
var homeownersInsurance = parseFloat(document.getElementById(‘homeownersInsurance’).value) / 12; // Monthly insurance
// Calculate the loan amount
var loanAmount = homePrice – downpayment;
// Mortgage calculation formula
var monthlyPayment = (loanAmount * interestRate) / (1 – Math.pow(1 + interestRate, -term));
// Add in other costs
var totalMonthlyPayment = monthlyPayment + propertyTax + hoaDues + homeownersInsurance;
if (isNaN(totalMonthlyPayment) || totalMonthlyPayment < 0) {
totalMonthlyPayment = 0;
}
document.getElementById('monthlyPayment').innerText = '$' + totalMonthlyPayment.toFixed(2);
});
// Set default downpayment based on percentage
document.getElementById('downpaymentPercentage').addEventListener('input', function() {
var homePrice = parseFloat(document.getElementById('homePrice').value);
var downpaymentPercentage = parseFloat(document.getElementById('downpaymentPercentage').value);
var downpayment = (downpaymentPercentage / 100) * homePrice;
document.getElementById('downpayment').value = downpayment.toFixed(2);
});
