#mortgage-calculator-plugin {
font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif;
max-width: 800px;
margin: 0 auto;
background: #fff;
color: #333;
line-height: 1.6;
}
.mc-calc-wrapper {
background: #f8f9fa;
padding: 30px;
border-radius: 8px;
box-shadow: 0 4px 6px rgba(0,0,0,0.1);
margin-bottom: 40px;
border: 1px solid #e9ecef;
}
.mc-title {
text-align: center;
color: #2c3e50;
margin-bottom: 25px;
font-size: 24px;
font-weight: 700;
}
.mc-grid {
display: grid;
grid-template-columns: 1fr 1fr;
gap: 20px;
}
@media (max-width: 600px) {
.mc-grid { grid-template-columns: 1fr; }
}
.mc-input-group {
margin-bottom: 15px;
}
.mc-input-group label {
display: block;
margin-bottom: 8px;
font-weight: 600;
font-size: 14px;
color: #555;
}
.mc-input-group input, .mc-input-group select {
width: 100%;
padding: 12px;
border: 1px solid #ddd;
border-radius: 6px;
font-size: 16px;
transition: border-color 0.3s;
box-sizing: border-box;
}
.mc-input-group input:focus {
border-color: #3498db;
outline: none;
}
.mc-btn-container {
grid-column: 1 / -1;
text-align: center;
margin-top: 10px;
}
.mc-btn {
background-color: #2ecc71;
color: white;
border: none;
padding: 15px 40px;
font-size: 18px;
font-weight: bold;
border-radius: 6px;
cursor: pointer;
transition: background 0.3s;
}
.mc-btn:hover {
background-color: #27ae60;
}
.mc-results {
grid-column: 1 / -1;
background: #fff;
padding: 20px;
border-radius: 6px;
margin-top: 20px;
border-left: 5px solid #3498db;
display: none;
}
.mc-result-row {
display: flex;
justify-content: space-between;
padding: 10px 0;
border-bottom: 1px solid #eee;
}
.mc-result-row:last-child {
border-bottom: none;
}
.mc-result-label {
color: #666;
}
.mc-result-value {
font-weight: bold;
color: #2c3e50;
}
.mc-total-payment {
font-size: 20px;
color: #2ecc71;
}
.mc-article {
padding: 20px;
}
.mc-article h2 {
color: #2c3e50;
margin-top: 30px;
}
.mc-article p {
margin-bottom: 15px;
color: #555;
}
.mc-article ul {
margin-bottom: 20px;
padding-left: 20px;
}
.mc-article li {
margin-bottom: 8px;
}
function calculateMortgage() {
// 1. Get Input Values
var homePrice = parseFloat(document.getElementById('mc_home_price').value);
var downPayment = parseFloat(document.getElementById('mc_down_payment').value);
var interestRate = parseFloat(document.getElementById('mc_interest_rate').value);
var loanTermYears = parseFloat(document.getElementById('mc_loan_term').value);
var annualTax = parseFloat(document.getElementById('mc_property_tax').value);
var annualIns = parseFloat(document.getElementById('mc_insurance').value);
// 2. Validate Inputs
if (isNaN(homePrice) || isNaN(downPayment) || isNaN(interestRate) || isNaN(loanTermYears)) {
alert("Please enter valid numbers for all fields.");
return;
}
if (downPayment >= homePrice) {
alert("Down payment cannot be greater than or equal to the home price.");
return;
}
// 3. Perform Calculations
var loanAmount = homePrice – downPayment;
var monthlyInterestRate = (interestRate / 100) / 12;
var totalPayments = loanTermYears * 12;
// Monthly Principal & Interest (Standard Mortgage Formula)
// M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
var monthlyPI = 0;
if (interestRate === 0) {
monthlyPI = loanAmount / totalPayments;
} else {
monthlyPI = loanAmount * (
(monthlyInterestRate * Math.pow(1 + monthlyInterestRate, totalPayments)) /
(Math.pow(1 + monthlyInterestRate, totalPayments) – 1)
);
}
// Escrow items (Tax and Insurance)
var monthlyTax = annualTax / 12;
var monthlyIns = annualIns / 12;
// Total Monthly Payment
var totalMonthlyPayment = monthlyPI + monthlyTax + monthlyIns;
// Total Cost Analysis
var totalPaidOverTerm = monthlyPI * totalPayments;
var totalInterest = totalPaidOverTerm – loanAmount;
// 4. Format Output (Currency)
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2
});
// 5. Display Results
document.getElementById('res_pi').innerHTML = formatter.format(monthlyPI);
document.getElementById('res_tax').innerHTML = formatter.format(monthlyTax);
document.getElementById('res_ins').innerHTML = formatter.format(monthlyIns);
document.getElementById('res_total').innerHTML = formatter.format(totalMonthlyPayment);
document.getElementById('res_total_interest').innerHTML = formatter.format(totalInterest);
// Show results section
document.getElementById('mc_results_area').style.display = 'block';
}
Mortgage Payment Calculator
30 Years
20 Years
15 Years
10 Years
Principal & Interest:
$0.00
Monthly Property Tax:
$0.00
Monthly Insurance:
$0.00
TOTAL MONTHLY PAYMENT:
$0.00
Total Interest Paid:
$0.00
Understanding Your Mortgage Payment
Calculating your monthly mortgage payment is a critical step in the home buying process. Knowing exactly how much you will pay each month helps you budget effectively and determine how much house you can truly afford. This calculator breaks down the four main components of a mortgage payment, often referred to as PITI: Principal, Interest, Taxes, and Insurance.
Breakdown of Costs
- Principal: The portion of your payment that reduces the loan balance. In the early years of a mortgage, this amount is small, but it grows over time.
- Interest: The cost of borrowing money from your lender. This is calculated based on your remaining loan balance and annual interest rate.
- Property Taxes: Fees paid to your local government, usually held in an escrow account by your lender and paid annually on your behalf.
- Homeowners Insurance: Protection for your property against damage, also typically paid through an escrow account.
How the Amortization Formula Works
Mortgage lenders use a standard amortization formula to determine your fixed monthly principal and interest payment. The formula ensures that by the end of your loan term (e.g., 30 years), the balance is exactly zero. While the total payment amount remains constant for fixed-rate mortgages, the ratio of principal to interest changes with every payment.
Strategies to Lower Your Payment
If the calculated monthly payment is higher than your budget allows, consider these strategies:
- Increase Your Down Payment: Putting more money down reduces the principal loan amount, which lowers your monthly obligation and total interest costs.
- Secure a Lower Interest Rate: Improving your credit score or shopping around with different lenders can help you qualify for a lower rate.
- Extend the Loan Term: While a 15-year loan saves money on interest, a 30-year term spreads the payments out longer, resulting in a lower monthly bill.
- Remove PMI: If you put down less than 20%, you are likely paying Private Mortgage Insurance. Once you reach 20% equity, you can request to have this removed.
Why Use a Mortgage Calculator?
Real estate markets move quickly. Having a reliable tool to estimate your monthly costs allows you to make informed offers without overextending your finances. Remember to account for maintenance costs and HOA fees, which are separate from your mortgage payment but impact your overall housing budget.