.calculator-container {
max-width: 800px;
margin: 0 auto;
font-family: 'Segoe UI', Roboto, Helvetica, Arial, sans-serif;
line-height: 1.6;
color: #333;
}
.calc-wrapper {
background: #f9f9f9;
border: 1px solid #e0e0e0;
border-radius: 8px;
padding: 25px;
box-shadow: 0 4px 6px rgba(0,0,0,0.05);
margin-bottom: 40px;
}
.calc-title {
text-align: center;
color: #2c3e50;
margin-bottom: 25px;
}
.input-grid {
display: grid;
grid-template-columns: 1fr 1fr;
gap: 20px;
}
@media (max-width: 600px) {
.input-grid {
grid-template-columns: 1fr;
}
}
.input-group {
margin-bottom: 15px;
}
.input-group label {
display: block;
margin-bottom: 8px;
font-weight: 600;
color: #555;
}
.input-group input {
width: 100%;
padding: 12px;
border: 1px solid #ddd;
border-radius: 4px;
font-size: 16px;
box-sizing: border-box; /* Fix padding issue */
}
.input-group input:focus {
border-color: #3498db;
outline: none;
box-shadow: 0 0 5px rgba(52, 152, 219, 0.3);
}
.calc-btn {
width: 100%;
background-color: #27ae60;
color: white;
border: none;
padding: 15px;
font-size: 18px;
font-weight: bold;
border-radius: 4px;
cursor: pointer;
margin-top: 10px;
transition: background-color 0.3s;
}
.calc-btn:hover {
background-color: #219150;
}
.results-box {
margin-top: 30px;
background: #fff;
border: 1px solid #ddd;
border-radius: 4px;
padding: 20px;
display: none; /* Hidden by default */
}
.result-row {
display: flex;
justify-content: space-between;
padding: 10px 0;
border-bottom: 1px solid #eee;
}
.result-row:last-child {
border-bottom: none;
}
.result-label {
color: #7f8c8d;
}
.result-value {
font-weight: bold;
color: #2c3e50;
}
.total-payment {
font-size: 1.4em;
color: #2980b9;
border-top: 2px solid #eee;
margin-top: 10px;
padding-top: 15px;
}
.error-msg {
color: #c0392b;
text-align: center;
display: none;
margin-top: 10px;
}
/* SEO Content Styles */
.seo-content h2 {
color: #2c3e50;
margin-top: 30px;
border-bottom: 2px solid #eee;
padding-bottom: 10px;
}
.seo-content h3 {
color: #34495e;
margin-top: 25px;
}
.seo-content p {
margin-bottom: 15px;
text-align: justify;
}
.seo-content ul {
margin-bottom: 20px;
padding-left: 20px;
}
.seo-content li {
margin-bottom: 10px;
}
function calculateMortgage() {
// Get inputs by ID
var homePrice = parseFloat(document.getElementById('homePrice').value);
var downPayment = parseFloat(document.getElementById('downPayment').value);
var interestRate = parseFloat(document.getElementById('interestRate').value);
var loanTerm = parseFloat(document.getElementById('loanTerm').value);
var propertyTax = parseFloat(document.getElementById('propertyTax').value);
var homeInsurance = parseFloat(document.getElementById('homeInsurance').value);
// Validation
if (isNaN(homePrice) || isNaN(downPayment) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(propertyTax) || isNaN(homeInsurance) ||
homePrice < 0 || downPayment < 0 || interestRate < 0 || loanTerm <= 0) {
document.getElementById('errorDisplay').style.display = 'block';
document.getElementById('resultBox').style.display = 'none';
return;
}
document.getElementById('errorDisplay').style.display = 'none';
// Calculations
var principal = homePrice – downPayment;
var monthlyRate = (interestRate / 100) / 12;
var totalPayments = loanTerm * 12;
// Standard Mortgage Formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
var monthlyPI = 0;
if (interestRate === 0) {
monthlyPI = principal / totalPayments;
} else {
var x = Math.pow(1 + monthlyRate, totalPayments);
monthlyPI = (principal * x * monthlyRate) / (x – 1);
}
// Monthly Tax and Insurance
var monthlyTax = propertyTax / 12;
var monthlyIns = homeInsurance / 12;
var monthlyEscrow = monthlyTax + monthlyIns;
// Totals
var totalMonthlyPayment = monthlyPI + monthlyEscrow;
var totalCost = monthlyPI * totalPayments;
var totalInterest = totalCost – principal;
// Payoff Date
var today = new Date();
today.setMonth(today.getMonth() + totalPayments);
var options = { month: 'long', year: 'numeric' };
var payoffDate = today.toLocaleDateString('en-US', options);
// Display Results
document.getElementById('resPI').innerText = '$' + monthlyPI.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resTaxIns').innerText = '$' + monthlyEscrow.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resTotal').innerText = '$' + totalMonthlyPayment.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resTotalInt').innerText = '$' + totalInterest.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resDate').innerText = payoffDate;
document.getElementById('resultBox').style.display = 'block';
}
How to Estimate Your Monthly Mortgage Payments
Purchasing a home is one of the most significant financial decisions you will make in your lifetime. Understanding exactly how much you will pay each month is crucial for maintaining a healthy budget. This Mortgage Payment Calculator helps you estimate your total monthly housing costs by factoring in not just the loan repayment, but also the inevitable costs of property taxes and homeowners insurance.
Understanding PITI: The 4 Pillars of Your Mortgage
When lenders calculate your monthly obligation, they look at four specific components, commonly referred to by the acronym PITI:
- Principal: The portion of your payment that goes toward paying down the original amount you borrowed. In the early years of a loan, this amount is small, but it grows over time.
- Interest: The fee the lender charges you for borrowing the money. This is calculated based on your annual interest rate and the remaining loan balance.
- Taxes: Property taxes assessed by your local government. Lenders often collect this monthly and hold it in an escrow account to pay the bill when it's due.
- Insurance: Homeowners insurance protects your property against damage. Like taxes, this is usually collected monthly into an escrow account.
Factors That Influence Your Monthly Payment
Several variables can drastically change your monthly financial commitment. By adjusting the inputs in the calculator above, you can see how these factors interact.
1. Down Payment Size
The more money you put down upfront, the less you need to borrow. A larger down payment reduces your principal, which lowers your monthly principal and interest payment. Additionally, if you put down at least 20%, you typically avoid Private Mortgage Insurance (PMI), saving you hundreds of dollars a month.
2. Loan Term
The length of your loan affects both your monthly payment and the total interest paid. A 30-year term offers lower monthly payments but results in significantly higher total interest costs over the life of the loan. Conversely, a 15-year term has higher monthly payments but saves you money on interest in the long run.
3. Interest Rate
Your interest rate is determined by the broader economic market and your personal credit score. Even a small difference, such as 0.5%, can add up to tens of thousands of dollars over 30 years. Improving your credit score before applying for a mortgage can secure a lower rate.
Why Calculate Before You Shop?
Many homebuyers make the mistake of shopping based on the total home price (e.g., $400,000) rather than the monthly payment. However, interest rates and local tax rates vary. A $400,000 home with low taxes and a low interest rate might be more affordable monthly than a $350,000 home in a high-tax area with a higher interest rate. Using this calculator allows you to reverse-engineer your budget to find a home price that fits your monthly cash flow comfort zone.