Mortgage Payment Calculator with Taxes & Insurance
/* Scoped Calculator Styles */
.mortgage-calc-wrapper {
font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
max-width: 800px;
margin: 20px auto;
padding: 0;
border: 1px solid #e0e0e0;
border-radius: 8px;
background-color: #fff;
box-shadow: 0 4px 12px rgba(0,0,0,0.05);
}
.mortgage-calc-header {
background-color: #2c3e50;
color: #fff;
padding: 20px;
border-radius: 8px 8px 0 0;
text-align: center;
}
.mortgage-calc-header h2 {
margin: 0;
font-size: 24px;
}
.mortgage-calc-body {
padding: 30px;
display: flex;
flex-wrap: wrap;
gap: 30px;
}
.calc-input-section {
flex: 1;
min-width: 300px;
}
.calc-result-section {
flex: 1;
min-width: 300px;
background-color: #f8f9fa;
padding: 20px;
border-radius: 8px;
border: 1px solid #dee2e6;
display: flex;
flex-direction: column;
justify-content: center;
}
.form-group {
margin-bottom: 15px;
}
.form-group label {
display: block;
margin-bottom: 5px;
font-weight: 600;
color: #333;
font-size: 14px;
}
.form-group input, .form-group select {
width: 100%;
padding: 10px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 16px;
box-sizing: border-box;
}
.form-group input:focus {
border-color: #3498db;
outline: none;
}
.calc-btn {
width: 100%;
padding: 12px;
background-color: #27ae60;
color: white;
border: none;
border-radius: 4px;
font-size: 18px;
font-weight: bold;
cursor: pointer;
transition: background-color 0.3s;
margin-top: 10px;
}
.calc-btn:hover {
background-color: #219150;
}
.result-row {
display: flex;
justify-content: space-between;
padding: 10px 0;
border-bottom: 1px solid #e9ecef;
font-size: 15px;
}
.result-row:last-child {
border-bottom: none;
}
.result-row.total-row {
margin-top: 15px;
background-color: #e8f5e9;
padding: 15px;
border-radius: 4px;
font-weight: bold;
color: #27ae60;
font-size: 18px;
border-bottom: none;
}
.error-msg {
color: #e74c3c;
font-size: 13px;
margin-top: 5px;
display: none;
}
/* Content Styles */
.article-container {
max-width: 800px;
margin: 40px auto;
font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
line-height: 1.6;
color: #333;
}
.article-container h2 {
color: #2c3e50;
margin-top: 30px;
border-bottom: 2px solid #ecf0f1;
padding-bottom: 10px;
}
.article-container p {
margin-bottom: 15px;
}
.article-container ul {
margin-bottom: 20px;
}
.article-container li {
margin-bottom: 8px;
}
.faq-section {
background-color: #f9f9f9;
padding: 20px;
border-radius: 8px;
margin-top: 40px;
}
.faq-item {
margin-bottom: 20px;
}
.faq-question {
font-weight: bold;
color: #2c3e50;
margin-bottom: 5px;
display: block;
}
@media (max-width: 768px) {
.mortgage-calc-body {
flex-direction: column;
}
}
Monthly Breakdown
Principal & Interest:
$0.00
Property Tax:
$0.00
Home Insurance:
$0.00
Total Monthly Payment:
$0.00
Loan Amount:
$0.00
Total Interest Paid:
$0.00
Total Cost of Loan:
$0.00
function calculateMortgage() {
// 1. Get DOM elements
var homePriceInput = document.getElementById("homePrice");
var downPaymentInput = document.getElementById("downPayment");
var interestRateInput = document.getElementById("interestRate");
var loanTermInput = document.getElementById("loanTerm");
var propertyTaxInput = document.getElementById("propertyTax");
var homeInsuranceInput = document.getElementById("homeInsurance");
var errorDisplay = document.getElementById("errorDisplay");
// 2. Parse values
var homePrice = parseFloat(homePriceInput.value);
var downPayment = parseFloat(downPaymentInput.value);
var interestRate = parseFloat(interestRateInput.value);
var loanTerm = parseInt(loanTermInput.value);
var propertyTax = parseFloat(propertyTaxInput.value);
var homeInsurance = parseFloat(homeInsuranceInput.value);
// 3. Validation
if (isNaN(homePrice) || isNaN(downPayment) || isNaN(interestRate) || isNaN(loanTerm) || homePrice = home price
if (loanAmount 0 && monthlyRate > 0) {
var mathPower = Math.pow(1 + monthlyRate, numberOfPayments);
monthlyPrincipalInterest = loanAmount * (monthlyRate * mathPower) / (mathPower – 1);
} else if (loanAmount > 0 && monthlyRate === 0) {
monthlyPrincipalInterest = loanAmount / numberOfPayments;
}
var monthlyTax = propertyTax / 12;
var monthlyInsurance = homeInsurance / 12;
// Check for NaN on tax/insurance (treat as 0 if empty)
if (isNaN(monthlyTax)) monthlyTax = 0;
if (isNaN(monthlyInsurance)) monthlyInsurance = 0;
var totalMonthlyPayment = monthlyPrincipalInterest + monthlyTax + monthlyInsurance;
var totalCost = (monthlyPrincipalInterest * numberOfPayments) + downPayment;
var totalInterest = (monthlyPrincipalInterest * numberOfPayments) – loanAmount;
// 5. Update UI
// Helper for formatting currency
function formatMoney(num) {
return "$" + num.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
}
document.getElementById("resPrincipalInterest").innerText = formatMoney(monthlyPrincipalInterest);
document.getElementById("resTax").innerText = formatMoney(monthlyTax);
document.getElementById("resInsurance").innerText = formatMoney(monthlyInsurance);
document.getElementById("resTotal").innerText = formatMoney(totalMonthlyPayment);
document.getElementById("resLoanAmount").innerText = formatMoney(loanAmount);
if (loanAmount > 0) {
document.getElementById("resTotalInterest").innerText = formatMoney(totalInterest);
document.getElementById("resTotalCost").innerText = formatMoney(totalCost);
} else {
document.getElementById("resTotalInterest").innerText = "$0.00";
document.getElementById("resTotalCost").innerText = formatMoney(homePrice);
}
}
// Run once on load to show initial valid state
window.onload = function() {
calculateMortgage();
};
Understanding Your Mortgage Payment
Purchasing a home is one of the most significant financial decisions you will make. To navigate this complex process, it is essential to understand exactly where your money goes every month. This Mortgage Calculator with Taxes and Insurance is designed to give you a comprehensive view of your monthly financial obligations, known in the industry as PITI.
What is PITI?
PITI stands for Principal, Interest, Taxes, and Insurance. These are the four primary components that make up a standard monthly mortgage payment:
- Principal: The portion of your payment that goes toward paying down the original amount you borrowed. As you pay down the principal, your equity in the home increases.
- Interest: The cost of borrowing money from your lender. 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 often 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 bundled into your monthly payment via escrow.
How Interest Rates Impact Your Loan
Even a small difference in interest rates can have a massive impact on your monthly payment and the total cost of your loan over time. For example, on a $300,000 loan, the difference between a 6% and a 7% interest rate can add hundreds of dollars to your monthly payment and tens of thousands of dollars to the total interest paid over 30 years. Using the calculator above, you can experiment with different rates to see how they affect your budget.
The Role of the Down Payment
Your down payment reduces the loan amount, which lowers your monthly principal and interest payments. A larger down payment (typically 20% or more) can also help you avoid Private Mortgage Insurance (PMI), a fee lenders charge borrowers who put down less than 20%. While this calculator focuses on PITI, keeping your loan-to-value ratio low is a smart financial strategy.
Mortgage Calculator FAQ
Does this calculator include HOA fees?
This specific calculator focuses on PITI (Principal, Interest, Taxes, Insurance). If you are buying a condo or a home in a community with a Homeowners Association (HOA), you should add that monthly fee on top of the "Total Monthly Payment" result shown above to get your full housing cost.
How accurate are the property tax estimates?
Property taxes vary significantly by county and state. The default value is an estimate. For the most accurate results, look up the specific property tax rate for the area where you intend to buy and enter the exact annual dollar amount in the "Annual Property Tax" field.
What is a loan term?
The loan term is the length of time you have to repay the loan. The most common terms are 15 years and 30 years. A 15-year term typically has higher monthly payments but lower interest rates and significantly less total interest paid over the life of the loan compared to a 30-year term.