Enter your financial details below to get an estimate of how much house you can afford. This calculator considers your income, debts, and savings.
Your total gross income before taxes.
Includes car loans, student loans, credit card minimums, etc. (excluding current rent/mortgage).
The cash you have saved for a down payment and closing costs.
Excellent (800+)
Very Good (740-799)
Good (670-739)
Fair (580-669)
Poor (500-579)
Higher scores generally lead to better loan terms.
15 Years
20 Years
30 Years
Common terms are 15 or 30 years.
Based on current market conditions and your credit score.
Percentage of home's value paid annually in property taxes. Varies by location.
Percentage of home's value paid annually for insurance. Varies by location and coverage.
Private Mortgage Insurance, typically required if down payment is less than 20%.
Your Estimated Affordability
—
Max Monthly Payment
—
Estimated Max Loan Amount
—
Estimated Max Home Price
—
How it works: We estimate your maximum affordable monthly payment based on income and debt ratios (typically 28% for PITI – Principal, Interest, Taxes, Insurance, and 36% for total debt). Then, we calculate the maximum loan amount you can support with that payment, considering interest rates and loan terms. Finally, we add your down payment to find the estimated maximum home price. PMI is included if your down payment is less than 20%.
Monthly Payment Breakdown
Breakdown of your estimated maximum monthly housing payment (PITI + PMI).
Loan Amortization Schedule (First 12 Months)
Month
Starting Balance
Payment
Interest Paid
Principal Paid
Ending Balance
Illustrative amortization for the estimated maximum loan amount.
What is a How Much House Can I Afford Calculator?
A how much house calculator is a financial tool designed to help prospective homebuyers estimate the maximum home price they can realistically afford. It takes into account various financial inputs such as your income, existing debts, savings for a down payment, and current interest rates. By analyzing these factors, the calculator provides an estimated range for the home price you can qualify for, helping you set a budget and focus your home search effectively. It's a crucial first step in the home-buying journey, offering a data-driven perspective beyond just wishful thinking.
Who should use it? Anyone considering buying a home, from first-time buyers to those looking to upgrade or downsize. It's particularly useful if you're unsure where to start with budgeting for a home purchase or want to understand how different financial scenarios (like a higher income or lower debt) could impact your buying power.
Common misconceptions:
Myth: Lenders will approve me for the absolute maximum they offer. Reality: It's wise to afford less than the maximum to maintain financial flexibility and avoid being "house poor."
Myth: The calculator gives a definitive purchase price. Reality: It's an estimate. Your actual affordability depends on lender approval, specific loan programs, and market conditions.
Myth: Only income and down payment matter. Reality: Debts, credit score, interest rates, and ongoing costs like taxes and insurance significantly impact affordability.
How Much House Can I Afford Calculator Formula and Mathematical Explanation
The how much house calculator uses a series of calculations to estimate affordability. The core idea is to determine the maximum monthly housing payment you can handle, and then work backward to find the corresponding home price.
Step-by-Step Derivation:
Calculate Maximum Monthly Housing Payment (PITI + PMI): Lenders often use debt-to-income (DTI) ratios. A common guideline is the "front-end ratio," where your total housing payment (Principal, Interest, Taxes, Insurance – PITI) should not exceed a certain percentage of your gross monthly income (e.g., 28%). We also consider the "back-end ratio," where total debt (including PITI) shouldn't exceed a higher percentage (e.g., 36%). For simplicity, this calculator often prioritizes the front-end ratio for the housing payment itself.
Max PITI = Annual Income / 12 * Front-End DTI Ratio (e.g., 0.28)
Calculate Maximum Loan Amount: Using the maximum PITI, we determine the largest loan you can afford. This involves a mortgage payment formula, rearranged to solve for the loan principal (P). The formula accounts for the monthly interest rate and the total number of payments.
Loan Amount = PITI * [1 – (1 + Monthly Interest Rate)^(-Number of Payments)] / Monthly Interest Rate Note: This calculation needs to be adjusted to include PMI if the down payment is less than 20%. The effective monthly housing cost for calculation purposes becomes PITI + PMI.
Calculate Estimated Maximum Home Price: This is the sum of the maximum loan amount and your available down payment.
Max Home Price = Estimated Max Loan Amount + Down Payment
Variable Explanations:
Variable
Meaning
Unit
Typical Range
Annual Household Income
Total gross income from all sources for the household.
Currency (e.g., USD)
$30,000 – $500,000+
Total Monthly Debt Payments
Minimum monthly payments for all non-housing debts (credit cards, auto loans, student loans, personal loans).
Currency (e.g., USD)
$0 – $5,000+
Available Down Payment
Cash available for the down payment and closing costs.
Currency (e.g., USD)
$5,000 – $200,000+
Estimated Credit Score
A measure of creditworthiness.
Score
300 – 850
Desired Loan Term (Years)
The duration over which the loan will be repaid.
Years
15, 20, 30
Estimated Annual Interest Rate (%)
The yearly interest rate charged on the loan.
Percent (%)
4.0% – 9.0%+
Estimated Annual Property Tax Rate (%)
Annual property tax as a percentage of home value.
Percent (%)
0.5% – 3.0%+
Estimated Annual Homeowners Insurance Rate (%)
Annual homeowners insurance as a percentage of home value.
Percent (%)
0.3% – 1.5%+
Estimated Annual PMI Rate (%)
Annual Private Mortgage Insurance as a percentage of loan amount.
Percent (%)
0.2% – 1.5%+
Front-End DTI Ratio
Housing payment (PITI) as % of gross monthly income.
Percent (%)
Typically 25% – 35%
Back-End DTI Ratio
Total debt (PITI + other debts) as % of gross monthly income.
Percent (%)
Typically 35% – 45%
Practical Examples (Real-World Use Cases)
Example 1: Young Professional Couple
Sarah and Ben are a young couple earning a combined annual income of $120,000. They have $30,000 saved for a down payment and closing costs. Their only significant monthly debt is a $400 car payment. They have a good credit score (around 750) and are looking at a 30-year mortgage with an estimated interest rate of 6.8%. Property taxes are estimated at 1.1% annually, homeowners insurance at 0.4%, and PMI at 0.6% since their down payment is less than 20% of the potential home price.
Inputs:
Annual Income: $120,000
Monthly Debt: $400
Down Payment: $30,000
Credit Score: 750 (Very Good)
Loan Term: 30 Years
Interest Rate: 6.8%
Property Tax Rate: 1.1%
Home Insurance Rate: 0.4%
PMI Rate: 0.6%
Calculator Output (Illustrative):
Estimated Max Home Price: ~$450,000
Estimated Max Loan Amount: ~$420,000
Max Monthly Payment (PITI + PMI): ~$2,800
Financial Interpretation: Sarah and Ben can likely afford a home priced around $450,000. Their estimated maximum monthly payment, including principal, interest, taxes, insurance, and PMI, would be approximately $2,800. This fits comfortably within typical DTI guidelines, leaving room in their budget for other expenses and savings.
Example 2: Family Relocating
The Chen family is relocating for a job opportunity. Their combined annual income is $180,000. They have $80,000 saved for a down payment. Their existing monthly debts include $600 in student loans and $300 for a second car. Their credit score is excellent (790). They are considering a 30-year mortgage at 6.5%. Property taxes are higher in their target area at 1.5% annually, insurance at 0.5%, and PMI is not needed as their down payment will be over 20% of the target home price.
Inputs:
Annual Income: $180,000
Monthly Debt: $900 ($600 + $300)
Down Payment: $80,000
Credit Score: 790 (Excellent)
Loan Term: 30 Years
Interest Rate: 6.5%
Property Tax Rate: 1.5%
Home Insurance Rate: 0.5%
PMI Rate: 0%
Calculator Output (Illustrative):
Estimated Max Home Price: ~$680,000
Estimated Max Loan Amount: ~$600,000
Max Monthly Payment (PITI): ~$3,800
Financial Interpretation: The Chens can afford a significantly more expensive home, potentially up to $680,000. Their estimated maximum monthly housing payment (PITI, without PMI) is around $3,800. This payment, combined with their existing $900 in monthly debts, should keep them well within the 36% back-end DTI ratio, allowing for a comfortable lifestyle.
How to Use This How Much House Calculator
Using the how much house calculator is straightforward. Follow these steps to get your personalized affordability estimate:
Gather Your Financial Information: Before you start, collect details about your annual household income, all existing monthly debt payments (excluding current rent/mortgage), and the amount you have saved for a down payment and closing costs.
Input Your Data:
Enter your Annual Household Income.
Enter your total Total Monthly Debt Payments.
Enter your Available Down Payment.
Select your Estimated Credit Score from the dropdown.
Choose your Desired Loan Term (e.g., 15 or 30 years).
Enter the Estimated Annual Interest Rate you anticipate. You can get a rough idea from online mortgage rate tables or your lender.
Input the Estimated Annual Property Tax Rate for the area you're considering. This varies significantly by location.
Enter the Estimated Annual Homeowners Insurance Rate.
Enter the Estimated Annual PMI Rate if your down payment is likely to be less than 20% of the home price. If you plan to put down 20% or more, you can enter 0.
Calculate: Click the "Calculate Affordability" button.
Review Your Results: The calculator will display:
Primary Result: Your estimated maximum home price.
Intermediate Values: Max Monthly Payment (PITI +/- PMI), Estimated Max Loan Amount.
Breakdown: A chart showing the components of your monthly payment and a table illustrating the loan amortization for the first year.
Interpret the Findings: Use the results to guide your home search budget. Remember, this is an estimate. It's crucial to get pre-approved by a lender for a definitive understanding of your borrowing capacity.
Adjust and Re-calculate: If the results aren't what you expected, try adjusting inputs like your down payment amount, loan term, or even your target price range to see how they affect affordability. Use the "Reset" button to start over.
Copy Results: Use the "Copy Results" button to save or share your calculated figures and assumptions.
Decision-Making Guidance: While the calculator shows the maximum you *can* afford, consider what you *should* afford. Aim for a monthly payment that leaves you comfortable financially, allowing for savings, investments, and unexpected expenses. Don't stretch your budget to the absolute limit.
Key Factors That Affect How Much House You Can Afford
Several critical factors influence your home affordability. Understanding these helps you interpret the calculator's results and plan your finances:
Income Stability and Growth Potential: A higher, stable income increases your borrowing power. Lenders favor consistent income streams. Future income potential can also be a factor, though lenders primarily rely on current verified income.
Debt-to-Income (DTI) Ratio: This is arguably the most significant factor. Lenders assess both your front-end DTI (housing costs vs. income) and back-end DTI (all debts vs. income). Lower DTI ratios indicate less financial risk and allow for larger loan amounts. Managing existing debts is key to improving your DTI.
Credit Score and History: Your credit score significantly impacts the interest rate you'll be offered. A higher score (e.g., 740+) usually secures lower rates, reducing your monthly payment and increasing the loan amount you can afford for a given payment. A lower score might require a larger down payment or result in a higher interest rate, reducing affordability.
Down Payment Size: A larger down payment directly increases the maximum home price you can afford (Max Price = Loan Amount + Down Payment). It also reduces the loan amount needed, potentially lowering monthly payments and helping you avoid PMI if you reach the 20% threshold.
Interest Rates: Mortgage interest rates have a profound effect. Even a small increase in the annual interest rate can significantly decrease the loan amount you can afford for a fixed monthly payment. Conversely, lower rates increase purchasing power. This is why timing the market or improving your credit score to secure better rates is crucial.
Property Taxes and Homeowners Insurance: These are ongoing costs included in your PITI payment. High property taxes or insurance premiums in a specific area will reduce the amount of your monthly payment available for the loan principal and interest, thus lowering the maximum loan amount and home price you can afford.
Private Mortgage Insurance (PMI): If your down payment is less than 20%, PMI is typically required. This adds to your monthly housing cost, reducing the amount available for the mortgage principal and interest, thereby lowering your overall affordability.
Closing Costs: While not always factored into the monthly payment calculation, closing costs (typically 2-5% of the loan amount) require upfront cash. Ensure your "Available Down Payment" includes funds for these costs, as they reduce the cash available for the down payment itself.
Frequently Asked Questions (FAQ)
Q1: How much house can I afford on a $70,000 salary?
A: On a $70,000 annual income, using a common guideline of a 28% front-end DTI ratio, your maximum monthly housing payment (PITI) would be around $1,633 ($70,000 / 12 * 0.28). Your affordable home price depends heavily on interest rates, loan term, down payment, and other debts. A how much house calculator can provide a more precise estimate by inputting these additional details.
Q2: Is a 30-year mortgage always better for affordability?
A: A 30-year mortgage generally offers lower monthly payments compared to a 15-year mortgage for the same loan amount, making it more affordable on a month-to-month basis. However, you'll pay significantly more interest over the life of the loan. A mortgage affordability calculator can help compare payment options.
Q3: What's the difference between pre-qualification and pre-approval?
A: Pre-qualification is a preliminary estimate based on information you provide. Pre-approval involves a lender verifying your financial information (income, assets, credit) and provides a more concrete understanding of how much you can borrow.
Q4: Should I include my current rent in the 'Monthly Debt Payments'?
A: No, typically you do not include your current rent or mortgage payment in the 'Monthly Debt Payments' section of an affordability calculator. This section is for recurring debts like car loans, student loans, and credit card minimums. The calculator estimates a *new* housing payment.
Q5: How much should I budget for closing costs?
A: Closing costs typically range from 2% to 5% of the loan amount. This includes fees for appraisal, title insurance, loan origination, and more. Always factor these into your total cash needed for the purchase.
Q6: Can I afford a house if my credit score is below 600?
A: It can be challenging. Lenders may offer less favorable interest rates or require a larger down payment. Some specialized loan programs might be available, but improving your credit score before applying is highly recommended.
Q7: How do property taxes affect my affordability?
A: Property taxes are a significant part of your monthly housing payment (PITI). Higher property taxes mean a larger portion of your budget goes towards taxes, leaving less for the loan principal and interest. This reduces the maximum loan amount and, consequently, the maximum home price you can afford.
Q8: What is the 28/36 rule in mortgage lending?
A: The 28/36 rule is a common guideline lenders use. It suggests that your total housing payment (Principal, Interest, Taxes, Insurance – PITI) should not exceed 28% of your gross monthly income (front-end DTI), and your total debt payments (including PITI) should not exceed 36% of your gross monthly income (back-end DTI). Many lenders allow higher DTIs, especially for borrowers with strong credit and larger down payments.
Related Tools and Internal Resources
Mortgage CalculatorCalculate your monthly mortgage payments with different loan terms and interest rates.
Refinance CalculatorDetermine if refinancing your current mortgage makes financial sense.
Compare Loan OffersUnderstand the key differences between various mortgage products.
Personal Budgeting ToolsManage your finances effectively to save for a down payment and ongoing homeownership costs.
Closing Cost EstimatorGet an estimate of the various fees associated with closing on a home.
Home Value EstimatorResearch the estimated market value of homes in your desired area.
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var downPaymentInput = document.getElementById('downPayment');
var creditScoreSelect = document.getElementById('creditScore');
var loanTermSelect = document.getElementById('loanTerm');
var interestRateInput = document.getElementById('interestRate');
var propertyTaxRateInput = document.getElementById('propertyTaxRate');
var homeInsuranceRateInput = document.getElementById('homeInsuranceRate');
var pmiRateInput = document.getElementById('pmiRate');
var primaryResultDiv = document.getElementById('primary-result');
var maxMonthlyPaymentSpan = document.getElementById('maxMonthlyPayment');
var estimatedMaxLoanSpan = document.getElementById('estimatedMaxLoan');
var estimatedMaxHomePriceSpan = document.getElementById('estimatedMaxHomePrice');
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var monthlyDebtError = document.getElementById('monthlyDebtError');
var downPaymentError = document.getElementById('downPaymentError');
var interestRateError = document.getElementById('interestRateError');
var propertyTaxRateError = document.getElementById('propertyTaxRateError');
var homeInsuranceRateError = document.getElementById('homeInsuranceRateError');
var pmiRateError = document.getElementById('pmiRateError');
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var defaultValues = {
annualIncome: 80000,
monthlyDebt: 500,
downPayment: 20000,
creditScore: '740',
loanTerm: '30',
interestRate: 6.5,
propertyTaxRate: 1.2,
homeInsuranceRate: 0.5,
pmiRate: 0.5
};
function formatCurrency(amount) {
if (isNaN(amount) || amount === null) return '–';
return '$' + amount.toFixed(0).replace(/\B(?=(\d{3})+(?!\d))/g, ",");
}
function formatPercent(rate) {
if (isNaN(rate) || rate === null) return '–';
return rate.toFixed(2) + '%';
}
function formatNumber(num) {
if (isNaN(num) || num === null) return '–';
return num.toFixed(0).replace(/\B(?=(\d{3})+(?!\d))/g, ",");
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function validateInput(inputElement, errorElement, minValue, maxValue) {
var value = parseFloat(inputElement.value);
var isValid = true;
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inputElement.style.borderColor = '#ccc';
if (isNaN(value)) {
errorElement.textContent = 'Please enter a valid number.';
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} else if (value maxValue) {
errorElement.textContent = 'Value is too high.';
errorElement.style.display = 'block';
inputElement.style.borderColor = 'red';
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return isValid;
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function calculateAffordability() {
// Clear previous errors
annualIncomeError.style.display = 'none';
monthlyDebtError.style.display = 'none';
downPaymentError.style.display = 'none';
interestRateError.style.display = 'none';
propertyTaxRateError.style.display = 'none';
homeInsuranceRateError.style.display = 'none';
pmiRateError.style.display = 'none';
// Input validation
var validIncome = validateInput(annualIncomeInput, annualIncomeError, 0);
var validDebt = validateInput(monthlyDebtInput, monthlyDebtError, 0);
var validDownPayment = validateInput(downPaymentInput, downPaymentError, 0);
var validInterestRate = validateInput(interestRateInput, interestRateError, 0, 100);
var validPropertyTax = validateInput(propertyTaxRateInput, propertyTaxRateError, 0, 10);
var validHomeInsurance = validateInput(homeInsuranceRateInput, homeInsuranceRateError, 0, 10);
var validPmiRate = validateInput(pmiRateInput, pmiRateError, 0, 10);
if (!validIncome || !validDebt || !validDownPayment || !validInterestRate || !validPropertyTax || !validHomeInsurance || !validPmiRate) {
primaryResultDiv.textContent = 'Enter valid inputs';
maxMonthlyPaymentSpan.textContent = '–';
estimatedMaxLoanSpan.textContent = '–';
estimatedMaxHomePriceSpan.textContent = '–';
chartSection.style.display = 'none';
amortizationTableSection.style.display = 'none';
return;
}
var annualIncome = parseFloat(annualIncomeInput.value);
var monthlyDebt = parseFloat(monthlyDebtInput.value);
var downPayment = parseFloat(downPaymentInput.value);
var creditScore = parseInt(creditScoreSelect.value);
var loanTerm = parseInt(loanTermSelect.value);
var annualInterestRate = parseFloat(interestRateInput.value);
var annualPropertyTaxRate = parseFloat(propertyTaxRateInput.value);
var annualHomeInsuranceRate = parseFloat(homeInsuranceRateInput.value);
var annualPmiRate = parseFloat(pmiRateInput.value);
// Determine DTI ratios based on credit score (simplified)
var frontEndDTIRatio = 0.28; // Default for good credit
var backEndDTIRatio = 0.36; // Default for good credit
if (creditScore >= 740) {
frontEndDTIRatio = 0.30; // Slightly higher for excellent credit
backEndDTIRatio = 0.40;
} else if (creditScore >= 670) {
frontEndDTIRatio = 0.28;
backEndDTIRatio = 0.36;
} else if (creditScore >= 580) {
frontEndDTIRatio = 0.25; // More conservative
backEndDTIRatio = 0.33;
} else { // Poor credit
frontEndDTIRatio = 0.22;
backEndDTIRatio = 0.30;
}
var grossMonthlyIncome = annualIncome / 12;
var maxMonthlyHousingPayment = grossMonthlyIncome * frontEndDTIRatio;
var maxTotalDebtPayment = grossMonthlyIncome * backEndDTIRatio;
var maxOtherDebtAllowed = maxTotalDebtPayment – maxMonthlyHousingPayment;
// Calculate monthly costs for taxes, insurance, PMI
// These are estimates based on the *potential* home price, creating a circular dependency.
// We'll iterate or make an assumption. Let's assume a starting point for calculation.
// A common approach is to estimate the max loan first, then derive the price.
var monthlyInterestRate = annualInterestRate / 100 / 12;
var numberOfPayments = loanTerm * 12;
// Estimate initial max loan based on PITI only (ignoring taxes/insurance for a moment to get a ballpark)
// This is a simplification; a more complex iterative approach would be needed for perfect accuracy.
// Let's calculate based on a target monthly payment that includes estimated taxes and insurance.
// Estimate monthly taxes and insurance based on a hypothetical home price derived from income.
// This is tricky. Let's use a common rule of thumb: Taxes + Insurance + PMI might be ~1.5-2.5% of home value annually.
// Let's assume the total PITI + PMI is the target.
// We need to solve for Loan Amount (L) where:
// L * [monthlyInterestRate / (1 – (1 + monthlyInterestRate)^(-numberOfPayments))] + (L * annualPropertyTaxRate / 12) + (L * annualHomeInsuranceRate / 12) + (L * annualPmiRate / 12) = maxMonthlyHousingPayment
// Let's simplify: Calculate max PITI first.
var maxPiti = maxMonthlyHousingPayment;
// Now, let's estimate the loan amount that fits this PITI, considering taxes and insurance.
// This requires iteration or a solver. A simpler approach:
// Assume taxes/insurance/PMI are a % of the loan amount.
// Let's estimate the loan amount first, then calculate the price, then refine.
// Initial guess for max loan amount (ignoring taxes/insurance for a moment)
var initialMaxLoan = 0;
if (monthlyInterestRate > 0) {
initialMaxLoan = maxPiti * (1 – Math.pow(1 + monthlyInterestRate, -numberOfPayments)) / monthlyInterestRate;
} else {
initialMaxLoan = maxPiti * numberOfPayments; // If interest rate is 0
}
// Now, let's estimate the monthly cost of taxes, insurance, and PMI based on a potential home price.
// Let's assume the home price is roughly initialMaxLoan + downPayment.
var estimatedHomePrice = initialMaxLoan + downPayment;
var monthlyTaxes = estimatedHomePrice * annualPropertyTaxRate / 12;
var monthlyInsurance = estimatedHomePrice * annualHomeInsuranceRate / 12;
var monthlyPmi = 0;
if (downPayment / estimatedHomePrice 0 && monthlyInterestRate > 0) {
finalMaxLoan = availableForPrincipalInterest * (1 – Math.pow(1 + monthlyInterestRate, -numberOfPayments)) / monthlyInterestRate;
} else if (availableForPrincipalInterest > 0 && monthlyInterestRate === 0) {
finalMaxLoan = availableForPrincipalInterest * numberOfPayments;
} else {
finalMaxLoan = 0; // Cannot afford even taxes/insurance
}
// Ensure loan amount doesn't exceed what's needed for the initial estimated price minus down payment
finalMaxLoan = Math.min(finalMaxLoan, estimatedHomePrice – downPayment);
// Final estimated home price
var finalMaxHomePrice = finalMaxLoan + downPayment;
// Recalculate monthly PMI based on final price
monthlyPmi = 0;
if (downPayment / finalMaxHomePrice < 0.20) {
monthlyPmi = finalMaxHomePrice * annualPmiRate / 12;
}
// Recalculate monthly taxes and insurance
monthlyTaxes = finalMaxHomePrice * annualPropertyTaxRate / 12;
monthlyInsurance = finalMaxHomePrice * annualHomeInsuranceRate / 12;
var finalMaxMonthlyPayment = finalMaxLoan * monthlyInterestRate / (1 – Math.pow(1 + monthlyInterestRate, -numberOfPayments)) + monthlyTaxes + monthlyInsurance + monthlyPmi;
// Update results display
primaryResultDiv.textContent = formatCurrency(finalMaxHomePrice);
maxMonthlyPaymentSpan.textContent = formatCurrency(finalMaxMonthlyPayment);
estimatedMaxLoanSpan.textContent = formatCurrency(finalMaxLoan);
estimatedMaxHomePriceSpan.textContent = formatCurrency(finalMaxHomePrice);
// Update chart data
updateChart(finalMaxMonthlyPayment, monthlyTaxes, monthlyInsurance, monthlyPmi, finalMaxLoan * monthlyInterestRate / (1 – Math.pow(1 + monthlyInterestRate, -numberOfPayments)));
// Update amortization table
updateAmortizationTable(finalMaxLoan, monthlyInterestRate, numberOfPayments, finalMaxMonthlyPayment – monthlyTaxes – monthlyInsurance – monthlyPmi, monthlyTaxes, monthlyInsurance, monthlyPmi);
chartSection.style.display = 'block';
amortizationTableSection.style.display = 'block';
}
function updateChart(totalPayment, taxes, insurance, pmi, principalInterest) {
if (chart) {
chart.destroy();
}
var ctx = chartCanvas;
chart = new Chart(ctx, {
type: 'doughnut', // or 'pie'
data: {
labels: ['Principal & Interest', 'Property Taxes', 'Home Insurance', 'PMI'],
datasets: [{
data: [principalInterest, taxes, insurance, pmi],
backgroundColor: [
'#004a99', // Primary color
'#6c757d', // Secondary color
'#17a2b8', // Info color
'#ffc107' // Warning color
],
borderColor: '#fff',
borderWidth: 1
}]
},
options: {
responsive: true,
maintainAspectRatio: false,
plugins: {
legend: {
position: 'bottom',
},
tooltip: {
callbacks: {
label: function(context) {
var label = context.label || '';
var value = context.raw || 0;
if (label) {
label += ': ';
}
if (context.parsed !== null) {
label += formatCurrency(value);
}
return label;
}
}
}
}
}
});
}
function updateAmortizationTable(loanAmount, monthlyInterestRate, numberOfPayments, monthlyPrincipal, monthlyTaxes, monthlyInsurance, monthlyPmi) {
amortizationTable.innerHTML = ''; // Clear previous rows
var balance = loanAmount;
var payment = monthlyPrincipal + monthlyTaxes + monthlyInsurance + monthlyPmi; // Total payment
for (var i = 0; i