#mortgage-calc-wrapper .mc-container {
background-color: #f9f9f9;
padding: 30px;
border-radius: 8px;
box-shadow: 0 4px 15px rgba(0,0,0,0.1);
margin-bottom: 40px;
}
#mortgage-calc-wrapper .mc-row {
display: flex;
flex-wrap: wrap;
margin-bottom: 15px;
gap: 20px;
}
#mortgage-calc-wrapper .mc-col {
flex: 1;
min-width: 200px;
}
#mortgage-calc-wrapper label {
display: block;
margin-bottom: 5px;
font-weight: 600;
font-size: 14px;
color: #2c3e50;
}
#mortgage-calc-wrapper input, #mortgage-calc-wrapper select {
width: 100%;
padding: 10px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 16px;
box-sizing: border-box;
}
#mortgage-calc-wrapper input:focus {
border-color: #3498db;
outline: none;
box-shadow: 0 0 5px rgba(52, 152, 219, 0.3);
}
#mortgage-calc-wrapper .mc-btn {
background-color: #2980b9;
color: white;
border: none;
padding: 15px 30px;
font-size: 18px;
font-weight: bold;
border-radius: 4px;
cursor: pointer;
width: 100%;
transition: background 0.3s;
margin-top: 10px;
}
#mortgage-calc-wrapper .mc-btn:hover {
background-color: #1f6391;
}
#mortgage-calc-wrapper .mc-results {
margin-top: 30px;
padding: 20px;
background-color: #fff;
border: 1px solid #e0e0e0;
border-radius: 4px;
display: none;
}
#mortgage-calc-wrapper .mc-total {
text-align: center;
font-size: 32px;
color: #27ae60;
font-weight: 800;
margin-bottom: 5px;
}
#mortgage-calc-wrapper .mc-total-label {
text-align: center;
font-size: 14px;
color: #7f8c8d;
margin-bottom: 20px;
text-transform: uppercase;
letter-spacing: 1px;
}
#mortgage-calc-wrapper .mc-breakdown {
display: grid;
grid-template-columns: 1fr 1fr;
gap: 10px;
border-top: 1px solid #eee;
padding-top: 15px;
}
#mortgage-calc-wrapper .mc-item {
display: flex;
justify-content: space-between;
font-size: 14px;
}
#mortgage-calc-wrapper .mc-item span:first-child {
color: #555;
}
#mortgage-calc-wrapper .mc-item span:last-child {
font-weight: 600;
}
/* SEO Content Styles */
#mortgage-calc-wrapper .seo-content h2 {
font-size: 24px;
color: #2c3e50;
margin-top: 30px;
border-bottom: 2px solid #3498db;
padding-bottom: 10px;
}
#mortgage-calc-wrapper .seo-content h3 {
font-size: 20px;
color: #34495e;
margin-top: 25px;
}
#mortgage-calc-wrapper .seo-content p {
line-height: 1.6;
margin-bottom: 15px;
color: #444;
}
#mortgage-calc-wrapper .seo-content ul {
margin-bottom: 20px;
padding-left: 20px;
}
#mortgage-calc-wrapper .seo-content li {
margin-bottom: 8px;
line-height: 1.5;
}
@media (max-width: 600px) {
#mortgage-calc-wrapper .mc-row {
flex-direction: column;
gap: 10px;
}
#mortgage-calc-wrapper .mc-breakdown {
grid-template-columns: 1fr;
}
}
function calcMortgage() {
// Get inputs
var homeVal = parseFloat(document.getElementById('mc-home-val').value) || 0;
var downPmt = parseFloat(document.getElementById('mc-down-pmt').value) || 0;
var interestRate = parseFloat(document.getElementById('mc-int-rate').value) || 0;
var termsYears = parseInt(document.getElementById('mc-loan-term').value) || 30;
var annualTax = parseFloat(document.getElementById('mc-tax').value) || 0;
var annualIns = parseFloat(document.getElementById('mc-insurance').value) || 0;
var monthlyHoa = parseFloat(document.getElementById('mc-hoa').value) || 0;
// Validate logic
if (homeVal <= 0) {
alert("Please enter a valid Home Price.");
return;
}
// Calculate Loan Amount
var loanAmount = homeVal – downPmt;
if (loanAmount 0) {
// Formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
var x = Math.pow(1 + monthlyRate, totalPayments);
monthlyPI = loanAmount * ((monthlyRate * x) / (x – 1));
} else {
monthlyPI = loanAmount / totalPayments;
}
// Calculate Monthly Tax and Insurance
var monthlyTax = annualTax / 12;
var monthlyIns = annualIns / 12;
// Calculate PMI if down payment is less than 20%
// Rule of thumb: 0.5% to 1% of loan amount per year. We will use 0.5% for estimation.
var pmiCost = 0;
var downPaymentPercent = (downPmt / homeVal) * 100;
var pmiRow = document.getElementById('mc-pmi-row');
if (downPaymentPercent 0) {
// Estimation: 0.5% of loan amount annually
pmiCost = (loanAmount * 0.005) / 12;
pmiRow.style.display = 'flex';
document.getElementById('mc-pmi-val').innerText = "$" + pmiCost.toFixed(2);
} else {
pmiRow.style.display = 'none';
}
// Total Monthly Payment
var totalMonthly = monthlyPI + monthlyTax + monthlyIns + monthlyHoa + pmiCost;
// Display Results
document.getElementById('mc-result-box').style.display = 'block';
// Format Currency Function
function fmtMoney(num) {
return "$" + num.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2});
}
document.getElementById('mc-monthly-total').innerText = fmtMoney(totalMonthly);
document.getElementById('mc-pi-val').innerText = fmtMoney(monthlyPI);
document.getElementById('mc-tax-val').innerText = fmtMoney(monthlyTax);
document.getElementById('mc-ins-val').innerText = fmtMoney(monthlyIns);
document.getElementById('mc-hoa-val').innerText = fmtMoney(monthlyHoa);
document.getElementById('mc-loan-amt').innerText = fmtMoney(loanAmount);
}
Mortgage Payment Calculator
30 Years
20 Years
15 Years
10 Years
$0.00
Estimated Monthly Payment
Principal & Interest:
$0.00
Property Tax:
$0.00
Home Insurance:
$0.00
HOA Fees:
$0.00
PMI (Est.):
$0.00
Total Loan Amount: $0
Understanding Your Mortgage Calculation
Calculating your monthly mortgage payment is the first step in determining your home buying budget. This tool provides a comprehensive breakdown of costs, going beyond just the principal and interest to include critical factors like property taxes, homeowner's insurance, and HOA fees.
The Core Components of a Mortgage Payment
Your monthly housing expense, often referred to as PITI (Principal, Interest, Taxes, and Insurance), consists of several parts:
- Principal: The portion of your payment that pays down the loan balance. In the early years of a long-term mortgage, this amount is small but grows over time.
- Interest: The cost of borrowing money. This is calculated based on your remaining loan balance and your annual interest rate.
- Property Taxes: Assessed by your local government, these are usually collected by your lender in escrow and paid annually.
- Homeowners Insurance: Protects your property against damage. Like taxes, this is typically paid through an escrow account.
How Down Payments Affect Your Monthly Cost
Your down payment significantly influences your monthly financial obligation. A larger down payment reduces the principal loan amount, which lowers your monthly interest costs. Additionally, if you put down less than 20% of the home's purchase price, you typically have to pay Private Mortgage Insurance (PMI).
Our calculator automatically estimates PMI if your down payment is below the standard 20% threshold (estimated at approx. 0.5% – 1% of the loan amount annually), giving you a more realistic view of your total monthly outlay.
Interest Rates and Loan Terms
The loan term (commonly 15 or 30 years) and the interest rate are mathematical levers that determine your payment size. A 30-year term offers lower monthly payments but results in significantly higher total interest paid over the life of the loan. Conversely, a 15-year term has higher monthly payments but saves you money in the long run.
Use the inputs above to experiment with different interest rates and terms to see how they impact your affordability.