#seo-mortgage-calculator-wrapper * {
box-sizing: border-box;
}
.mc-calculator-card {
background: #ffffff;
border: 1px solid #e0e0e0;
border-radius: 8px;
box-shadow: 0 4px 12px rgba(0,0,0,0.05);
padding: 30px;
margin-bottom: 40px;
}
.mc-header {
text-align: center;
margin-bottom: 25px;
}
.mc-header h2 {
margin: 0;
color: #2c3e50;
font-size: 28px;
}
.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-wrapper {
position: relative;
}
.mc-input-wrapper input {
width: 100%;
padding: 12px 12px 12px 30px;
border: 1px solid #ddd;
border-radius: 4px;
font-size: 16px;
transition: border-color 0.3s;
}
.mc-input-wrapper input:focus {
border-color: #3498db;
outline: none;
}
.mc-currency-symbol, .mc-percent-symbol {
position: absolute;
top: 50%;
transform: translateY(-50%);
color: #888;
font-size: 16px;
}
.mc-currency-symbol { left: 10px; }
.mc-percent-symbol { right: 10px; }
.mc-input-wrapper.percent input {
padding: 12px 30px 12px 12px;
}
.mc-btn-container {
grid-column: 1 / -1;
text-align: center;
margin-top: 10px;
}
.mc-calculate-btn {
background-color: #27ae60;
color: white;
border: none;
padding: 14px 30px;
font-size: 18px;
font-weight: bold;
border-radius: 5px;
cursor: pointer;
transition: background-color 0.2s;
width: 100%;
}
.mc-calculate-btn:hover {
background-color: #219150;
}
.mc-results {
margin-top: 30px;
background-color: #f8f9fa;
border-radius: 6px;
padding: 20px;
border-top: 4px solid #3498db;
display: none;
}
.mc-result-header {
text-align: center;
font-size: 1.2rem;
color: #555;
margin-bottom: 10px;
}
.mc-big-number {
text-align: center;
font-size: 2.5rem;
font-weight: 800;
color: #2c3e50;
margin-bottom: 20px;
}
.mc-breakdown {
list-style: none;
padding: 0;
margin: 0;
border-top: 1px solid #e0e0e0;
}
.mc-breakdown li {
display: flex;
justify-content: space-between;
padding: 12px 0;
border-bottom: 1px solid #e0e0e0;
font-size: 15px;
}
.mc-breakdown li span:first-child {
color: #666;
}
.mc-breakdown li span:last-child {
font-weight: 700;
color: #333;
}
.mc-article h2 {
color: #2c3e50;
border-bottom: 2px solid #eee;
padding-bottom: 10px;
margin-top: 40px;
}
.mc-article h3 {
color: #34495e;
margin-top: 25px;
}
.mc-article ul {
padding-left: 20px;
}
.mc-article li {
margin-bottom: 10px;
}
.mc-error {
color: #c0392b;
text-align: center;
margin-top: 10px;
display: none;
font-weight: bold;
}
function calculateMortgage() {
// 1. Get Input Values
var homePrice = parseFloat(document.getElementById('mc_homePrice').value);
var downPayment = parseFloat(document.getElementById('mc_downPayment').value);
var interestRate = parseFloat(document.getElementById('mc_interestRate').value);
var loanTerm = parseFloat(document.getElementById('mc_loanTerm').value);
var propertyTax = parseFloat(document.getElementById('mc_propertyTax').value);
var homeInsurance = parseFloat(document.getElementById('mc_homeInsurance').value);
var hoaFees = parseFloat(document.getElementById('mc_hoaFees').value);
// 2. Element References for Output
var resultSection = document.getElementById('mc_result_section');
var errorMsg = document.getElementById('mc_error_msg');
var totalMonthlyDisplay = document.getElementById('mc_total_monthly');
var piDisplay = document.getElementById('mc_pi_result');
var taxDisplay = document.getElementById('mc_tax_result');
var insDisplay = document.getElementById('mc_ins_result');
var hoaDisplay = document.getElementById('mc_hoa_result');
var totalInterestDisplay = document.getElementById('mc_total_interest_result');
var totalCostDisplay = document.getElementById('mc_total_cost_result');
// 3. Validation
if (isNaN(homePrice) || isNaN(downPayment) || isNaN(interestRate) || isNaN(loanTerm) ||
homePrice < 0 || downPayment < 0 || interestRate < 0 || loanTerm home price
if (principal < 0) {
principal = 0;
}
var monthlyRate = (interestRate / 100) / 12;
var numberOfPayments = loanTerm * 12;
var monthlyPI = 0;
// If interest rate is 0, simple division
if (interestRate === 0) {
monthlyPI = principal / numberOfPayments;
} else {
// Mortgage Formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
var x = Math.pow(1 + monthlyRate, numberOfPayments);
monthlyPI = (principal * monthlyRate * x) / (x – 1);
}
if (!isFinite(monthlyPI)) monthlyPI = 0;
// Calculate Monthly Components
var monthlyTax = propertyTax / 12;
var monthlyInsurance = homeInsurance / 12;
var totalMonthlyPayment = monthlyPI + monthlyTax + monthlyInsurance + hoaFees;
// Calculate Totals over life of loan
var totalPaymentOverLife = (monthlyPI * numberOfPayments);
var totalInterest = totalPaymentOverLife – principal;
var totalCostIncludingFees = (totalMonthlyPayment * numberOfPayments); // This assumes taxes/insurance stay same, which is a simplified projection for these calcs
// 5. Update DOM
var currencyFormatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2
});
totalMonthlyDisplay.innerHTML = currencyFormatter.format(totalMonthlyPayment);
piDisplay.innerHTML = currencyFormatter.format(monthlyPI);
taxDisplay.innerHTML = currencyFormatter.format(monthlyTax);
insDisplay.innerHTML = currencyFormatter.format(monthlyInsurance);
hoaDisplay.innerHTML = currencyFormatter.format(hoaFees);
totalInterestDisplay.innerHTML = currencyFormatter.format(totalInterest);
totalCostDisplay.innerHTML = currencyFormatter.format(totalCostIncludingFees);
// Show results
resultSection.style.display = "block";
}
Mortgage Payment Calculator
Estimate your monthly payments, including principal, interest, taxes, and insurance.
$
$
%
$
$
$
Please check your inputs. Values must be positive numbers.
Estimated Monthly Payment
$0.00
- Principal & Interest $0.00
- Property Tax (Monthly) $0.00
- Home Insurance (Monthly) $0.00
- HOA Fees $0.00
- Total Interest Paid (Over Loan Life) $0.00
- Total Cost of Loan $0.00
How a Mortgage Calculator Works
Purchasing a home is likely the largest financial decision you will ever make. Understanding your estimated monthly payment before you start shopping for a home is crucial for maintaining financial health. This Mortgage Calculator helps you break down the true cost of homeownership by factoring in not just the loan principal and interest, but also escrow costs like taxes and insurance.
Understanding the Components of Your Payment
Your monthly mortgage payment is typically composed of four key parts, often referred to as PITI:
- Principal: The portion of your payment that goes toward paying down the loan balance ($350,000 home price – $70,000 down payment = $280,000 principal).
- Interest: The cost of borrowing money. In the early years of a mortgage, a larger percentage of your payment goes toward interest rather than principal.
- Taxes: Property taxes assessed by your local government. These are usually collected by the lender and held in an escrow account to be paid annually.
- Insurance: Homeowners insurance protects your property against damage. Like taxes, this is often divided into monthly installments and paid via escrow.
How Interest Rates Affect Your Buying Power
Even a small change in interest rates can significantly impact your monthly payment and the total cost of the loan. For example, on a $300,000 loan, a 1% increase in interest rate can increase your monthly payment by hundreds of dollars and your total interest paid by over $60,000 over the life of a 30-year loan. Use the calculator above to experiment with different rates to see how they impact your budget.
PMI and HOA Fees
Don't forget to account for Homeowners Association (HOA) fees if you are buying a condo or a home in a planned community. Additionally, if your down payment is less than 20% of the home price, lenders often require Private Mortgage Insurance (PMI), which is an extra monthly cost not calculated above but should be considered in your budget.
How is the Mortgage Formula Calculated?
The standard formula used for fixed-rate mortgages is:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
Where:
- M = Total monthly payment
- P = Principal loan amount
- i = Monthly interest rate (Annual Rate / 12)
- n = Number of months (Loan Term in Years × 12)