Costco Auto Loan Rates Calculator

.seo-calculator-widget h3 { color: #2c3e50; margin-top: 0; text-align: center; } .calc-grid { display: grid; grid-template-columns: 1fr 1fr; gap: 20px; margin-bottom: 20px; } @media (max-width: 600px) { .calc-grid { grid-template-columns: 1fr; } } .input-group { margin-bottom: 15px; } .input-group label { display: block; margin-bottom: 5px; font-weight: 600; color: #555; font-size: 14px; } .input-group input { width: 100%; padding: 10px; border: 1px solid #ccc; border-radius: 4px; box-sizing: border-box; font-size: 16px; } .input-group input:focus { border-color: #3498db; outline: none; } .calc-btn { width: 100%; background-color: #2980b9; color: white; border: none; padding: 15px; font-size: 18px; font-weight: bold; border-radius: 4px; cursor: pointer; transition: background 0.3s; } .calc-btn:hover { background-color: #21618c; } .calc-results { background-color: #fff; border: 1px solid #ddd; padding: 20px; border-radius: 4px; margin-top: 20px; display: none; } .result-row { display: flex; justify-content: space-between; padding: 10px 0; border-bottom: 1px solid #eee; } .result-row:last-child { border-bottom: none; font-weight: bold; font-size: 1.2em; color: #27ae60; } .result-label { color: #777; } .result-value { font-weight: bold; color: #333; } .error-msg { color: #c0392b; text-align: center; display: none; margin-bottom: 10px; }

Mortgage PITI Payment Calculator

Please enter valid numeric values for all fields.

function calculateMortgage() { // Get Input Values var homePrice = parseFloat(document.getElementById('homePrice').value); var downPayment = parseFloat(document.getElementById('downPayment').value); var loanTermYears = parseFloat(document.getElementById('loanTerm').value); var interestRateAnnual = parseFloat(document.getElementById('interestRate').value); var propertyTaxAnnual = parseFloat(document.getElementById('propertyTax').value); var homeInsuranceAnnual = parseFloat(document.getElementById('homeInsurance').value); var hoaFeesMonthly = parseFloat(document.getElementById('hoaFees').value); var errorDiv = document.getElementById('errorMsg'); var resultsDiv = document.getElementById('resultsArea'); // Validation if (isNaN(homePrice) || isNaN(downPayment) || isNaN(loanTermYears) || isNaN(interestRateAnnual) || isNaN(propertyTaxAnnual) || isNaN(homeInsuranceAnnual) || isNaN(hoaFeesMonthly)) { errorDiv.style.display = 'block'; resultsDiv.style.display = 'none'; return; } errorDiv.style.display = 'none'; // Calculations var principal = homePrice – downPayment; var monthlyRate = (interestRateAnnual / 100) / 12; var numberOfPayments = loanTermYears * 12; // Mortgage Formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ] var monthlyPI = 0; if (interestRateAnnual === 0) { monthlyPI = principal / numberOfPayments; } else { monthlyPI = principal * (monthlyRate * Math.pow(1 + monthlyRate, numberOfPayments)) / (Math.pow(1 + monthlyRate, numberOfPayments) – 1); } var monthlyTax = propertyTaxAnnual / 12; var monthlyInsurance = homeInsuranceAnnual / 12; var totalMonthly = monthlyPI + monthlyTax + monthlyInsurance + hoaFeesMonthly; // Formatting Output document.getElementById('resPI').innerText = '$' + monthlyPI.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('resTax').innerText = '$' + monthlyTax.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('resIns').innerText = '$' + monthlyInsurance.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('resHOA').innerText = '$' + hoaFeesMonthly.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('resTotal').innerText = '$' + totalMonthly.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}); // Show Results resultsDiv.style.display = 'block'; }

Understanding Your Mortgage Payment with PITI

When calculating how much home you can afford, it is crucial to look beyond just the loan repayment. A comprehensive mortgage calculation involves four key components, often abbreviated as PITI: Principal, Interest, Taxes, and Insurance.

1. Principal and Interest

This is the core of your mortgage payment. The Principal is the money that goes towards paying down the loan balance (initially calculated as Home Price minus Down Payment). The Interest is the cost of borrowing that money, determined by your annual interest rate.

In a standard amortization schedule, your early payments primarily cover interest, while later payments contribute more significantly to the principal reduction.

2. Property Taxes

Local governments assess property taxes to fund community services like schools, police, and road maintenance. This calculator divides your estimated annual tax bill by 12 to show the monthly impact on your budget. Tax rates vary significantly by location, so check with your local county assessor for accurate estimates.

3. Homeowners Insurance & HOA Fees

Lenders require homeowners insurance to protect the asset against damage. Additionally, if you are buying a condo or a home in a planned community, you likely need to pay Homeowners Association (HOA) fees. While HOA fees are usually paid directly to the association, they affect your debt-to-income ratio and overall monthly affordability.

How to Use This Calculator

• Home Price: Enter the purchase price of the property.
• Down Payment: Enter the cash amount you are paying upfront. A higher down payment reduces your principal and monthly P&I.
• Interest Rate: Input the current annual mortgage rate. Even a small difference of 0.5% can save thousands over the life of the loan.
• Taxes & Insurance: Estimate these annual costs to get a realistic "out-the-door" monthly payment figure.

Use this tool to experiment with different down payments and interest rates to find a monthly payment that fits comfortably within your financial goals.