Uncovered Interest Rate Parity Calculator

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Mortgage Payment Calculator .mpc-container { font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif; max-width: 800px; margin: 20px auto; padding: 30px; background: #ffffff; border-radius: 8px; box-shadow: 0 4px 20px rgba(0,0,0,0.1); border: 1px solid #e0e0e0; } .mpc-header { text-align: center; margin-bottom: 30px; } .mpc-header h2 { color: #2c3e50; margin: 0; font-size: 28px; } .mpc-grid { display: grid; grid-template-columns: 1fr 1fr; gap: 20px; } @media (max-width: 600px) { .mpc-grid { grid-template-columns: 1fr; } } .mpc-input-group { display: flex; flex-direction: column; } .mpc-input-group label { font-weight: 600; margin-bottom: 8px; color: #34495e; font-size: 14px; } .mpc-input-group input, .mpc-input-group select { padding: 12px; border: 1px solid #cbd5e0; border-radius: 6px; font-size: 16px; transition: border-color 0.3s; } .mpc-input-group input:focus { border-color: #3498db; outline: none; } .mpc-btn-container { grid-column: 1 / -1; text-align: center; margin-top: 10px; } .mpc-btn { background-color: #27ae60; color: white; border: none; padding: 15px 40px; font-size: 18px; font-weight: bold; border-radius: 6px; cursor: pointer; transition: background-color 0.2s; width: 100%; max-width: 300px; } .mpc-btn:hover { background-color: #219150; } .mpc-results { margin-top: 30px; background-color: #f8f9fa; padding: 25px; border-radius: 8px; border-left: 5px solid #27ae60; display: none; } .mpc-result-row { display: flex; justify-content: space-between; margin-bottom: 12px; font-size: 16px; color: #555; } .mpc-result-row.total { margin-top: 20px; padding-top: 15px; border-top: 1px solid #ddd; font-weight: 800; color: #2c3e50; font-size: 20px; } .mpc-content { max-width: 800px; margin: 40px auto; line-height: 1.6; color: #444; font-family: inherit; } .mpc-content h3 { color: #2c3e50; margin-top: 30px; } .mpc-content p { margin-bottom: 15px; } .mpc-content ul { margin-bottom: 20px; padding-left: 20px; } .mpc-content li { margin-bottom: 8px; } .input-symbol-wrapper { position: relative; } .input-symbol { position: absolute; left: 10px; top: 50%; transform: translateY(-50%); color: #7f8c8d; } .input-with-symbol { padding-left: 25px !important; } .input-suffix-wrapper { position: relative; } .input-suffix { position: absolute; right: 15px; top: 50%; transform: translateY(-50%); color: #7f8c8d; } function calculateMortgage() { // Get input values 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 insurance = parseFloat(document.getElementById('insurance').value); var hoa = parseFloat(document.getElementById('hoa').value); // Validation if (isNaN(homePrice) || homePrice <= 0) { alert("Please enter a valid Home Price."); return; } if (isNaN(downPayment) || downPayment < 0) { downPayment = 0; } if (isNaN(interestRate) || interestRate < 0) { alert("Please enter a valid Interest Rate."); return; } if (isNaN(loanTerm) || loanTerm <= 0) { alert("Please enter a valid Loan Term."); return; } if (isNaN(propertyTax)) propertyTax = 0; if (isNaN(insurance)) insurance = 0; if (isNaN(hoa)) hoa = 0; // Calculations var loanAmount = homePrice – downPayment; var monthlyRate = (interestRate / 100) / 12; var numberOfPayments = loanTerm * 12; var monthlyPI = 0; // Handle 0% interest edge case if (interestRate === 0) { monthlyPI = loanAmount / numberOfPayments; } else { // Mortgage Formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ] monthlyPI = loanAmount * (monthlyRate * Math.pow(1 + monthlyRate, numberOfPayments)) / (Math.pow(1 + monthlyRate, numberOfPayments) – 1); } var monthlyTax = propertyTax / 12; var monthlyInsurance = insurance / 12; var totalMonthlyPayment = monthlyPI + monthlyTax + monthlyInsurance + hoa; var totalCost = totalMonthlyPayment * numberOfPayments; // Note: This is a rough estimate for total cost over term including fees var totalPrincipalInterest = monthlyPI * numberOfPayments; var totalInterest = totalPrincipalInterest – loanAmount; // Formatting currency var formatter = new Intl.NumberFormat('en-US', { style: 'currency', currency: 'USD', minimumFractionDigits: 2 }); // Display Results document.getElementById('resMonthlyPI').innerText = formatter.format(monthlyPI); document.getElementById('resTax').innerText = formatter.format(monthlyTax); document.getElementById('resInsurance').innerText = formatter.format(monthlyInsurance); document.getElementById('resHOA').innerText = formatter.format(hoa); document.getElementById('resTotalMonthly').innerText = formatter.format(totalMonthlyPayment); // Show result container document.getElementById('resultContainer').style.display = 'block'; }

Mortgage Calculator

Estimate your monthly mortgage payments including taxes and insurance.

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Monthly Payment Breakdown

Principal & Interest: –
Property Taxes: –
Homeowners Insurance: –
HOA Fees: –
Total Monthly Payment: –

Understanding Your Mortgage Payment

Purchasing a home is one of the most significant financial decisions you will make. This Mortgage Payment Calculator is designed to help you understand exactly what your monthly financial commitment will look like. Unlike basic calculators that only look at principal and interest, our tool accounts for the "PITI" components: Principal, Interest, Taxes, and Insurance.

How Is Your Mortgage Calculated?

Your monthly payment is composed of four main factors:

  • Principal: The portion of your payment that goes toward reducing the loan balance. In the early years of a mortgage, this amount is small, but it grows over time.
  • Interest: The fee charged by the lender for borrowing the money. Higher interest rates significantly increase your monthly payment and total loan cost.
  • Taxes: Property taxes assessed by your local government. These are often collected by your lender and held in an escrow account.
  • Insurance: Homeowners insurance protects your property against damage. Like taxes, this is usually part of your monthly escrow payment.

Why Include HOA Fees?

If you are buying a condo or a home in a planned community, you may have to pay Homeowners Association (HOA) fees. While these are paid directly to the association and not the lender, they affect your debt-to-income ratio and monthly affordability. It is crucial to include these in your calculations to get a realistic view of your housing costs.

Tips for Lowering Your Monthly Payment

If the estimated payment is higher than your budget allows, consider these strategies:

  • Increase your down payment: This reduces the principal loan amount.
  • Improve your credit score: A better score can qualify you for a lower interest rate.
  • Shop for cheaper insurance: Insurance premiums vary significantly between providers.
  • Extend the loan term: A 30-year term will have lower monthly payments than a 15-year term, although you will pay more interest over the life of the loan.

Use this calculator to experiment with different home prices, down payments, and interest rates to find a mortgage scenario that fits your budget comfortably.

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