.calc-wrapper {
background-color: #f9f9f9;
border: 1px solid #e0e0e0;
border-radius: 8px;
padding: 30px;
box-shadow: 0 4px 6px rgba(0,0,0,0.1);
margin-bottom: 40px;
}
.calc-row {
display: flex;
flex-wrap: wrap;
gap: 20px;
margin-bottom: 20px;
}
.calc-col {
flex: 1;
min-width: 250px;
}
.calc-label {
display: block;
font-weight: 600;
margin-bottom: 8px;
color: #333;
}
.calc-input {
width: 100%;
padding: 12px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 16px;
box-sizing: border-box;
}
.calc-input:focus {
border-color: #0073aa;
outline: none;
box-shadow: 0 0 0 2px rgba(0,115,170,0.2);
}
.calc-btn {
background-color: #0073aa;
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;
}
.calc-btn:hover {
background-color: #005177;
}
.calc-results {
margin-top: 30px;
padding-top: 20px;
border-top: 2px solid #e0e0e0;
display: none;
}
.result-card {
background-color: #fff;
padding: 20px;
border-radius: 6px;
border-left: 5px solid #0073aa;
margin-bottom: 15px;
box-shadow: 0 2px 4px rgba(0,0,0,0.05);
}
.result-title {
font-size: 14px;
text-transform: uppercase;
color: #666;
margin-bottom: 5px;
}
.result-value {
font-size: 28px;
font-weight: 800;
color: #2c3e50;
}
.seo-content h2 {
color: #2c3e50;
margin-top: 30px;
font-size: 24px;
}
.seo-content p {
line-height: 1.6;
color: #444;
margin-bottom: 15px;
}
.seo-content ul {
margin-bottom: 20px;
padding-left: 20px;
}
.seo-content li {
margin-bottom: 10px;
line-height: 1.6;
}
function calculateMortgage() {
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);
if (isNaN(homePrice) || isNaN(downPayment) || isNaN(interestRate) || isNaN(loanTerm)) {
alert("Please enter valid numbers in all fields.");
return;
}
if (homePrice <= 0 || loanTerm <= 0) {
alert("Home price and loan term must be greater than zero.");
return;
}
// Loan Principal
var principal = homePrice – downPayment;
// Monthly Interest Rate (Annual Rate / 100 / 12)
var monthlyRate = (interestRate / 100) / 12;
// Total Number of Payments (Months)
var numberOfPayments = loanTerm * 12;
var monthlyPayment = 0;
var totalCost = 0;
var totalInterest = 0;
if (interestRate === 0) {
monthlyPayment = principal / numberOfPayments;
} else {
// Mortgage Formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
monthlyPayment = principal * (monthlyRate * Math.pow(1 + monthlyRate, numberOfPayments)) / (Math.pow(1 + monthlyRate, numberOfPayments) – 1);
}
totalCost = monthlyPayment * numberOfPayments;
totalInterest = totalCost – principal;
// Display Results
document.getElementById('monthlyPaymentResult').innerHTML = "$" + monthlyPayment.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('totalPrincipalResult').innerHTML = "$" + principal.toLocaleString(undefined, {minimumFractionDigits: 0, maximumFractionDigits: 0});
document.getElementById('totalInterestResult').innerHTML = "$" + totalInterest.toLocaleString(undefined, {minimumFractionDigits: 0, maximumFractionDigits: 0});
document.getElementById('totalCostResult').innerHTML = "$" + totalCost.toLocaleString(undefined, {minimumFractionDigits: 0, maximumFractionDigits: 0});
document.getElementById('calcResults').style.display = "block";
}
Mortgage Repayment Calculator
Estimated Monthly Payment
$0.00
Total Principal Paid
$0.00
Total Interest Cost
$0.00
Total Cost of Loan
$0.00
Understanding Your Mortgage Calculation
Purchasing a home is likely the largest financial commitment you will make in your lifetime. Our Mortgage Repayment Calculator helps you estimate your monthly payments and understand the long-term cost of borrowing. By adjusting the home price, down payment, interest rate, and loan term, you can see how different scenarios affect your budget.
How Is the Monthly Mortgage Payment Calculated?
This calculator uses the standard amortization formula to determine your principal and interest payments. The mathematical formula is:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
- M: Total monthly payment
- P: The principal loan amount (Home Price minus Down Payment)
- i: Monthly interest rate (Annual Interest Rate divided by 12)
- n: Total number of months in the loan term
While this formula calculates the core principal and interest, remember that your actual monthly bill may also include property taxes, homeowners insurance, and Private Mortgage Insurance (PMI) if your down payment is less than 20%.
Factors That Impact Your Mortgage Costs
Several key variables influence how much you pay monthly and over the life of the loan:
- Down Payment: putting more money down upfront reduces the principal loan amount, which lowers both your monthly payment and the total interest paid over time.
- Interest Rate: Even a fraction of a percentage point difference in your rate can save (or cost) you tens of thousands of dollars over a 30-year term. Rates are determined by the economy and your personal credit score.
- Loan Term: A shorter term (e.g., 15 years) typically comes with a lower interest rate and significantly less total interest cost, but requires much higher monthly payments compared to a 30-year term.
Example Scenario
Consider a home price of $350,000 with a 20% down payment ($70,000). The loan amount becomes $280,000. If you secure a 30-year fixed-rate mortgage at 6.5% interest:
- Your estimated monthly principal and interest payment would be roughly $1,770.
- Over the course of 30 years, you would pay approximately $357,000 in interest alone, making the total cost of the loan over $637,000.
Use the calculator above to run your own numbers and find a mortgage plan that fits your financial goals.