.calculator-wrapper {
max-width: 800px;
margin: 0 auto;
font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif;
color: #333;
line-height: 1.6;
}
.calc-container {
background: #f8f9fa;
padding: 30px;
border-radius: 8px;
box-shadow: 0 4px 6px rgba(0,0,0,0.1);
margin-bottom: 40px;
}
.calc-grid {
display: grid;
grid-template-columns: 1fr 1fr;
gap: 20px;
}
@media (max-width: 600px) {
.calc-grid {
grid-template-columns: 1fr;
}
}
.input-group {
margin-bottom: 15px;
}
.input-group label {
display: block;
margin-bottom: 5px;
font-weight: 600;
font-size: 0.9em;
}
.input-group input, .input-group select {
width: 100%;
padding: 10px;
border: 1px solid #ddd;
border-radius: 4px;
font-size: 16px;
box-sizing: border-box;
}
.input-group .currency-symbol {
position: relative;
}
.input-group .currency-symbol:before {
content: "$";
position: absolute;
left: 10px;
top: 10px;
color: #666;
}
.input-group .currency-symbol input {
padding-left: 25px;
}
.calc-btn {
background-color: #0073aa;
color: white;
border: none;
padding: 12px 24px;
font-size: 18px;
font-weight: bold;
border-radius: 4px;
cursor: pointer;
width: 100%;
margin-top: 10px;
transition: background-color 0.3s;
}
.calc-btn:hover {
background-color: #005177;
}
.calc-results {
background: #fff;
padding: 20px;
border-radius: 4px;
margin-top: 25px;
border: 1px solid #eee;
display: none;
}
.result-highlight {
text-align: center;
margin-bottom: 20px;
padding-bottom: 20px;
border-bottom: 2px solid #f0f0f0;
}
.result-highlight h3 {
margin: 0;
font-size: 1.2em;
color: #666;
}
.result-highlight .big-number {
font-size: 2.5em;
font-weight: bold;
color: #0073aa;
margin: 10px 0;
}
.breakdown-row {
display: flex;
justify-content: space-between;
padding: 8px 0;
border-bottom: 1px solid #f9f9f9;
}
.breakdown-row:last-child {
border-bottom: none;
}
.breakdown-label {
color: #555;
}
.breakdown-value {
font-weight: 600;
}
.article-content h2 {
color: #2c3e50;
border-bottom: 2px solid #0073aa;
padding-bottom: 10px;
margin-top: 40px;
}
.article-content h3 {
color: #2c3e50;
margin-top: 25px;
}
.article-content p {
margin-bottom: 15px;
}
.article-content ul {
margin-bottom: 20px;
padding-left: 20px;
}
.article-content li {
margin-bottom: 8px;
}
.error-msg {
color: #dc3232;
text-align: center;
margin-top: 10px;
display: none;
}
function calculateMortgage() {
// Get inputs using var
var homePrice = parseFloat(document.getElementById("mc_homePrice").value);
var downPayment = parseFloat(document.getElementById("mc_downPayment").value);
var loanTermYears = parseFloat(document.getElementById("mc_loanTerm").value);
var interestRateAnnual = parseFloat(document.getElementById("mc_interestRate").value);
var propertyTaxAnnual = parseFloat(document.getElementById("mc_propertyTax").value);
var insuranceAnnual = parseFloat(document.getElementById("mc_insurance").value);
var hoaMonthly = parseFloat(document.getElementById("mc_hoa").value);
// Validation
if (isNaN(homePrice) || isNaN(downPayment) || isNaN(loanTermYears) ||
isNaN(interestRateAnnual) || isNaN(propertyTaxAnnual) ||
isNaN(insuranceAnnual) || isNaN(hoaMonthly) ||
homePrice < 0 || downPayment < 0) {
document.getElementById("mc_error").style.display = "block";
document.getElementById("mc_result").style.display = "none";
return;
}
document.getElementById("mc_error").style.display = "none";
// Logic
var principal = homePrice – downPayment;
var monthlyRate = (interestRateAnnual / 100) / 12;
var numberOfPayments = loanTermYears * 12;
var monthlyPrincipalInterest = 0;
// Handle zero interest case or standard case
if (interestRateAnnual === 0) {
monthlyPrincipalInterest = principal / numberOfPayments;
} else {
monthlyPrincipalInterest = principal *
(monthlyRate * Math.pow(1 + monthlyRate, numberOfPayments)) /
(Math.pow(1 + monthlyRate, numberOfPayments) – 1);
}
var monthlyTax = propertyTaxAnnual / 12;
var monthlyInsurance = insuranceAnnual / 12;
var totalMonthlyPayment = monthlyPrincipalInterest + monthlyTax + monthlyInsurance + hoaMonthly;
var totalRepayment = monthlyPrincipalInterest * numberOfPayments;
var totalInterest = totalRepayment – principal;
// Calculate Payoff Date
var today = new Date();
var payoffDate = new Date(today.setMonth(today.getMonth() + numberOfPayments));
var payoffMonthYear = payoffDate.toLocaleString('default', { month: 'short', year: 'numeric' });
// Format Currency Function
var fmt = new Intl.NumberFormat('en-US', { style: 'currency', currency: 'USD' });
// Update DOM
document.getElementById("mc_totalMonthly").innerHTML = fmt.format(totalMonthlyPayment);
document.getElementById("mc_pi").innerHTML = fmt.format(monthlyPrincipalInterest);
document.getElementById("mc_tax").innerHTML = fmt.format(monthlyTax);
document.getElementById("mc_ins").innerHTML = fmt.format(monthlyInsurance);
document.getElementById("mc_hoa_res").innerHTML = fmt.format(hoaMonthly);
document.getElementById("mc_loanAmount").innerHTML = fmt.format(principal);
document.getElementById("mc_totalInterest").innerHTML = fmt.format(totalInterest);
document.getElementById("mc_payoffDate").innerHTML = payoffMonthYear;
// Show Results
document.getElementById("mc_result").style.display = "block";
}
{
"@context": "https://schema.org",
"@type": "FAQPage",
"mainEntity": [{
"@type": "Question",
"name": "How is a mortgage payment calculated?",
"acceptedAnswer": {
"@type": "Answer",
"text": "A mortgage payment is calculated using the principal loan amount, the annual interest rate, and the loan term (number of years). The standard formula amortizes the loan so that you pay off both interest and principal in equal monthly installments. Property taxes and insurance are often added to this base amount."
}
}, {
"@type": "Question",
"name": "What is included in PITI?",
"acceptedAnswer": {
"@type": "Answer",
"text": "PITI stands for Principal, Interest, Taxes, and Insurance. These are the four primary components that make up a standard monthly mortgage payment."
}
}, {
"@type": "Question",
"name": "Does a higher down payment lower my monthly rate?",
"acceptedAnswer": {
"@type": "Answer",
"text": "Yes. A higher down payment reduces the principal loan amount. Since you are borrowing less money, your monthly principal and interest payments will be lower. Additionally, putting down 20% or more often eliminates the need for Private Mortgage Insurance (PMI)."
}
}]
}
Mortgage Payment Calculator
30 Years
20 Years
15 Years
10 Years
Please enter valid positive numbers for all fields.
Estimated Monthly Payment
$0.00
Principal & Interest
$0.00
Property Taxes
$0.00
Homeowners Insurance
$0.00
HOA Fees
$0.00
Loan Amount
$0.00
Total Interest Paid (Est.)
$0.00
Payoff Date (Est.)
Month Year
Understanding Mortgage Calculations
A mortgage calculator is an essential tool for prospective homebuyers. It helps you estimate your monthly housing costs based on the price of the home, your down payment, and the specific terms of your loan. Understanding these numbers is crucial for setting a realistic budget and avoiding financial strain.
Components of Your Monthly Payment
Your monthly mortgage payment is typically composed of four main parts, often referred to as PITI:
- Principal: The portion of your payment that goes toward paying down the loan balance.
- Interest: The cost of borrowing money from the lender. In the early years of your loan, a larger portion of your payment goes toward interest.
- Taxes: Property taxes assessed by your local government, often held in escrow by your lender and paid annually on your behalf.
- Insurance: Homeowners insurance protects your property against damage. Like taxes, this is often divided into monthly installments.
Additionally, if you buy a condo or a home in a planned community, you may have HOA (Homeowners Association) Fees, which are factored into this calculator to give you a complete picture of your monthly obligation.
How Interest Rates Impact Affordability
Even a small difference in interest rates can have a significant impact on your monthly payment and the total cost of the loan over time. For example, on a $300,000 loan, a 1% increase in interest rate can increase your monthly payment by several hundred dollars and your total interest paid by tens of thousands of dollars over a 30-year term.
Choosing the Right Loan Term
Most buyers choose between a 15-year and a 30-year mortgage term. A 30-year term offers lower monthly payments, making the home more affordable on a month-to-month basis, but you will pay significantly more in interest over the life of the loan. A 15-year term has higher monthly payments but allows you to build equity faster and save on total interest costs.
Using This Calculator
To get the most accurate estimate, enter the specific home price you are considering and your target down payment. Don't forget to adjust the property tax and insurance fields, as these vary significantly by location. If you are unsure, 1.2% of the home price is a common estimate for annual property taxes in many areas.