Loan Value Calculator
body {
font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
background-color: #f8f9fa;
color: #333;
margin: 0;
padding: 20px;
display: flex;
justify-content: center;
align-items: flex-start; /* Align to top */
min-height: 100vh;
}
.loan-calc-container {
background-color: #ffffff;
border-radius: 8px;
box-shadow: 0 4px 12px rgba(0, 0, 0, 0.1);
padding: 30px;
width: 100%;
max-width: 700px;
box-sizing: border-box;
margin-top: 20px; /* Add margin to separate from potential header */
}
h1, h2 {
color: #004a99;
text-align: center;
margin-bottom: 20px;
}
.input-group {
margin-bottom: 20px;
display: flex;
flex-direction: column;
}
.input-group label {
font-weight: bold;
margin-bottom: 8px;
color: #004a99;
}
.input-group input[type="number"],
.input-group input[type="text"] { /* Allow for text for dropdown-like behavior if needed, though number is primary */
padding: 12px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 16px;
box-sizing: border-box;
width: 100%;
}
.input-group input[type="number"]:focus,
.input-group input[type="text"]:focus {
border-color: #004a99;
outline: none;
box-shadow: 0 0 0 2px rgba(0, 74, 153, 0.2);
}
button {
background-color: #004a99;
color: white;
padding: 12px 20px;
border: none;
border-radius: 4px;
font-size: 16px;
cursor: pointer;
width: 100%;
margin-top: 10px;
transition: background-color 0.3s ease;
}
button:hover {
background-color: #003366;
}
#result {
margin-top: 30px;
padding: 20px;
background-color: #e7f3ff; /* Light blue highlight */
border-left: 5px solid #004a99;
border-radius: 4px;
text-align: center;
}
#result h3 {
margin-top: 0;
color: #004a99;
}
#result-value {
font-size: 28px;
font-weight: bold;
color: #28a745; /* Success green */
display: block; /* Ensure it takes its own line */
margin-top: 10px;
}
.explanation {
margin-top: 40px;
padding: 25px;
background-color: #ffffff;
border-radius: 8px;
box-shadow: 0 4px 12px rgba(0, 0, 0, 0.05);
}
.explanation h2 {
text-align: left;
margin-bottom: 15px;
color: #004a99;
}
.explanation p, .explanation ul, .explanation li {
line-height: 1.6;
margin-bottom: 15px;
}
.explanation ul {
padding-left: 20px;
}
.explanation li {
margin-bottom: 10px;
}
.explanation strong {
color: #004a99;
}
.disclaimer {
font-size: 12px;
color: #666;
text-align: center;
margin-top: 20px;
}
/* Responsive adjustments */
@media (max-width: 600px) {
.loan-calc-container {
padding: 20px;
}
h1 {
font-size: 24px;
}
h2 {
font-size: 20px;
}
.input-group input[type="number"],
.input-group input[type="text"] {
font-size: 14px;
padding: 10px;
}
button {
font-size: 14px;
padding: 10px 15px;
}
#result-value {
font-size: 24px;
}
.explanation {
padding: 15px;
}
}
Loan Value Calculator
Estimated Loan Value
$0.00
Understanding Loan Value Calculation
The "loan value" is often a slightly ambiguous term. In the context of calculating what you can afford or the total cost of a loan, it typically refers to the principal amount that can be borrowed, or sometimes the total repayment amount. This calculator focuses on determining the monthly payment based on a given principal, interest rate, and loan term. The underlying principle is the amortization formula, which allows for equal periodic payments over the life of the loan.
While this calculator provides a monthly payment estimate, lenders consider many factors beyond these basic inputs to determine the actual loan value or maximum amount you can borrow. These often include your credit score, income, debt-to-income ratio, and the specific loan product you're applying for.
The Math Behind Loan Payments
The formula to calculate the monthly payment (M) for an amortizing loan is as follows:
$M = P \left[ \frac{i(1+i)^n}{(1+i)^n – 1} \right]$
- M = Monthly Payment
- P = Principal Loan Amount (the amount borrowed)
- i = Monthly Interest Rate (Annual Rate / 12 / 100)
- n = Total Number of Payments (Loan Term in Years * 12)
This calculator takes the provided Loan Principal, Annual Interest Rate, and Loan Term (in Years) to compute your estimated monthly payment.
Use Cases for this Calculator:
- Budgeting: Estimate how much your monthly loan payments might be for various scenarios (e.g., car loans, personal loans, mortgages).
- Affordability: Determine if a particular loan amount fits within your monthly budget.
- Loan Comparison: Compare potential loan offers by inputting different interest rates and terms to see how they affect monthly payments.
- Financial Planning: Understand the total cost of borrowing over time, including interest.
This calculator is for estimation purposes only. It does not account for all loan fees, origination charges, or other variable costs. Consult with a financial institution for precise loan offers and terms.
function calculateLoanValue() {
var principal = parseFloat(document.getElementById("loanAmount").value);
var annualRate = parseFloat(document.getElementById("interestRate").value);
var termYears = parseFloat(document.getElementById("loanTerm").value);
var resultDisplay = document.getElementById("result-value");
// Clear previous result
resultDisplay.textContent = "$0.00";
// Input validation
if (isNaN(principal) || principal <= 0) {
alert("Please enter a valid positive loan principal.");
return;
}
if (isNaN(annualRate) || annualRate < 0) {
alert("Please enter a valid non-negative annual interest rate.");
return;
}
if (isNaN(termYears) || termYears <= 0) {
alert("Please enter a valid positive loan term in years.");
return;
}
// Convert annual rate to monthly rate
var monthlyRate = annualRate / 100 / 12;
// Calculate total number of payments
var numberOfPayments = termYears * 12;
var monthlyPayment = 0;
// Handle zero interest rate case
if (monthlyRate === 0) {
monthlyPayment = principal / numberOfPayments;
} else {
// Calculate monthly payment using the amortization formula
var factor = Math.pow(1 + monthlyRate, numberOfPayments);
monthlyPayment = principal * (monthlyRate * factor) / (factor – 1);
}
// Format the result to two decimal places and add currency symbol
resultDisplay.textContent = "$" + monthlyPayment.toFixed(2);
}