#mortgage-calculator-wrapper .calc-container {
background-color: #f8f9fa;
border: 1px solid #e9ecef;
border-radius: 8px;
padding: 30px;
box-shadow: 0 4px 6px rgba(0,0,0,0.05);
margin-bottom: 40px;
}
#mortgage-calculator-wrapper h2 {
color: #2c3e50;
border-bottom: 2px solid #3498db;
padding-bottom: 10px;
margin-top: 30px;
}
#mortgage-calculator-wrapper .input-grid {
display: grid;
grid-template-columns: 1fr 1fr;
gap: 20px;
margin-bottom: 25px;
}
@media (max-width: 600px) {
#mortgage-calculator-wrapper .input-grid {
grid-template-columns: 1fr;
}
}
#mortgage-calculator-wrapper .form-group {
margin-bottom: 15px;
}
#mortgage-calculator-wrapper label {
display: block;
font-weight: 600;
margin-bottom: 8px;
font-size: 14px;
}
#mortgage-calculator-wrapper input {
width: 100%;
padding: 12px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 16px;
box-sizing: border-box;
transition: border-color 0.3s;
}
#mortgage-calculator-wrapper input:focus {
border-color: #3498db;
outline: none;
}
#mortgage-calculator-wrapper .calc-btn {
background-color: #3498db;
color: white;
border: none;
padding: 15px 30px;
font-size: 18px;
font-weight: bold;
border-radius: 4px;
cursor: pointer;
width: 100%;
transition: background-color 0.2s;
}
#mortgage-calculator-wrapper .calc-btn:hover {
background-color: #2980b9;
}
#mortgage-calculator-wrapper .results-box {
background-color: #ffffff;
border: 1px solid #dcdcdc;
border-left: 5px solid #2ecc71;
padding: 20px;
margin-top: 25px;
display: none;
}
#mortgage-calculator-wrapper .result-row {
display: flex;
justify-content: space-between;
margin-bottom: 10px;
font-size: 16px;
}
#mortgage-calculator-wrapper .result-row.total {
font-weight: bold;
font-size: 20px;
color: #27ae60;
border-top: 1px solid #eee;
padding-top: 10px;
margin-top: 10px;
}
#mortgage-calculator-wrapper .seo-content {
line-height: 1.6;
font-size: 16px;
}
#mortgage-calculator-wrapper .seo-content h3 {
color: #34495e;
margin-top: 25px;
}
#mortgage-calculator-wrapper .seo-content ul {
padding-left: 20px;
}
#mortgage-calculator-wrapper .seo-content li {
margin-bottom: 10px;
}
function calculateMortgage() {
// Get Input Values
var homePriceInput = document.getElementById('homePrice');
var downPaymentInput = document.getElementById('downPayment');
var interestRateInput = document.getElementById('interestRate');
var loanTermInput = document.getElementById('loanTerm');
var resultsDiv = document.getElementById('results');
var homePrice = parseFloat(homePriceInput.value);
var downPayment = parseFloat(downPaymentInput.value);
var annualRate = parseFloat(interestRateInput.value);
var years = parseFloat(loanTermInput.value);
// Validation
if (isNaN(homePrice) || isNaN(downPayment) || isNaN(annualRate) || isNaN(years) || homePrice <= 0 || years <= 0) {
alert("Please enter valid positive numbers for all fields.");
return;
}
// Core Calculations
var principal = homePrice – downPayment;
// If down payment is greater than home price
if (principal < 0) {
alert("Down payment cannot be greater than the home price.");
return;
}
var monthlyRate = annualRate / 100 / 12;
var numberOfPayments = years * 12;
var monthlyPayment = 0;
var totalCost = 0;
var totalInterest = 0;
// Handle zero interest case
if (annualRate === 0) {
monthlyPayment = principal / numberOfPayments;
} else {
// Amortization Formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
var x = Math.pow(1 + monthlyRate, numberOfPayments);
monthlyPayment = (principal * x * monthlyRate) / (x – 1);
}
totalCost = monthlyPayment * numberOfPayments;
totalInterest = totalCost – principal;
// Format Currency
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2
});
// Display Results
document.getElementById('monthlyPaymentDisplay').innerHTML = formatter.format(monthlyPayment);
document.getElementById('loanAmountDisplay').innerHTML = formatter.format(principal);
document.getElementById('totalInterestDisplay').innerHTML = formatter.format(totalInterest);
document.getElementById('totalCostDisplay').innerHTML = formatter.format(totalCost);
// Show results box
resultsDiv.style.display = "block";
// Smooth scroll to results
resultsDiv.scrollIntoView({ behavior: 'smooth', block: 'nearest' });
}
Mortgage Payment Estimator
Monthly Payment:
$0.00
Loan Amount:
$0.00
Total Interest Paid:
$0.00
Total Cost of Loan:
$0.00
*Estimates include Principal & Interest only. Taxes and Insurance not included.
Understanding Your Mortgage Payment
Purchasing a home is likely the largest financial commitment you will make in your lifetime. Our Mortgage Payment Calculator is designed to bring clarity to this complex process. By inputting the home price, your planned down payment, the interest rate, and the loan term, you can instantly see your estimated monthly principal and interest payment.
Key Factors Affecting Your Mortgage
When calculating your mortgage, four primary components determine your monthly outlay:
- Principal: The amount of money you borrow. This is calculated as the Home Price minus your Down Payment.
- Interest Rate: The cost of borrowing money, expressed as a percentage. Even a small difference (e.g., 6.0% vs 6.5%) can add up to tens of thousands of dollars over the life of a loan.
- Loan Term: The duration of your loan. A 30-year term offers lower monthly payments but results in higher total interest costs compared to a 15-year term.
- Down Payment: Paying more upfront reduces your principal loan amount and lowers your monthly payments. Furthermore, a down payment of 20% or more typically helps you avoid Private Mortgage Insurance (PMI).
How the Amortization Formula Works
Mortgages generally use an amortization formula to ensure you pay off the loan in equal monthly installments. In the early years of your loan, the majority of your payment goes toward interest. As time passes, a larger portion of your payment is applied to the principal balance, accelerating your equity ownership.
Why Calculate Before You Buy?
Using a mortgage calculator helps you define your budget before you start house hunting. It empowers you to negotiate better rates and understand the long-term financial impact of different loan scenarios. Remember to factor in property taxes, homeowner's insurance, and HOA fees, as these are not included in the basic principal and interest calculation provided above.