#mortgage-calculator-wrapper .calc-box {
background: #f9f9f9;
padding: 30px;
border-radius: 8px;
box-shadow: 0 4px 15px rgba(0,0,0,0.05);
border: 1px solid #e0e0e0;
margin-bottom: 40px;
}
#mortgage-calculator-wrapper .form-group {
margin-bottom: 20px;
}
#mortgage-calculator-wrapper label {
display: block;
margin-bottom: 8px;
font-weight: 600;
font-size: 15px;
}
#mortgage-calculator-wrapper input {
width: 100%;
padding: 12px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 16px;
box-sizing: border-box;
}
#mortgage-calculator-wrapper .row {
display: flex;
flex-wrap: wrap;
margin: 0 -10px;
}
#mortgage-calculator-wrapper .col {
flex: 1;
padding: 0 10px;
min-width: 250px;
}
#mortgage-calculator-wrapper button {
background-color: #0066cc;
color: white;
border: none;
padding: 15px 30px;
font-size: 18px;
font-weight: bold;
border-radius: 4px;
cursor: pointer;
width: 100%;
transition: background-color 0.3s;
}
#mortgage-calculator-wrapper button:hover {
background-color: #0052a3;
}
#mortgage-calculator-wrapper #calc-results {
margin-top: 30px;
padding-top: 20px;
border-top: 2px solid #e0e0e0;
display: none;
}
#mortgage-calculator-wrapper .result-item {
display: flex;
justify-content: space-between;
margin-bottom: 10px;
font-size: 16px;
}
#mortgage-calculator-wrapper .result-total {
font-size: 24px;
font-weight: 800;
color: #0066cc;
margin-top: 15px;
padding-top: 15px;
border-top: 1px dashed #ccc;
}
#mortgage-calculator-wrapper .error-msg {
color: #d32f2f;
margin-top: 10px;
display: none;
}
.seo-content h2 {
font-size: 24px;
color: #2c3e50;
margin-top: 40px;
border-bottom: 2px solid #0066cc;
padding-bottom: 10px;
display: inline-block;
}
.seo-content h3 {
font-size: 20px;
color: #34495e;
margin-top: 25px;
}
.seo-content p {
line-height: 1.6;
margin-bottom: 15px;
font-size: 17px;
}
.seo-content ul {
margin-bottom: 20px;
line-height: 1.6;
}
.seo-content li {
margin-bottom: 8px;
}
function calculateMortgage() {
// Get Input Elements
var homePriceInput = document.getElementById('mc-home-price');
var downPaymentInput = document.getElementById('mc-down-payment');
var interestRateInput = document.getElementById('mc-interest-rate');
var loanTermInput = document.getElementById('mc-loan-term');
var propertyTaxInput = document.getElementById('mc-property-tax');
var homeInsuranceInput = document.getElementById('mc-home-insurance');
var hoaInput = document.getElementById('mc-hoa');
// Parse Values
var homePrice = parseFloat(homePriceInput.value);
var downPayment = parseFloat(downPaymentInput.value);
var interestRate = parseFloat(interestRateInput.value);
var loanTerm = parseFloat(loanTermInput.value);
var annualTax = parseFloat(propertyTaxInput.value);
var annualInsurance = parseFloat(homeInsuranceInput.value);
var monthlyHOA = parseFloat(hoaInput.value);
// Validation Logic
var errorDiv = document.getElementById('mc-error');
var resultsDiv = document.getElementById('calc-results');
if (isNaN(homePrice) || isNaN(downPayment) || isNaN(interestRate) || isNaN(loanTerm) ||
homePrice <= 0 || loanTerm <= 0 || interestRate < 0) {
errorDiv.style.display = 'block';
resultsDiv.style.display = 'none';
return;
} else {
errorDiv.style.display = 'none';
}
// Default optional fields to 0 if empty
if (isNaN(annualTax)) annualTax = 0;
if (isNaN(annualInsurance)) annualInsurance = 0;
if (isNaN(monthlyHOA)) monthlyHOA = 0;
// Core Calculations
var principal = homePrice – downPayment;
// Prevent negative principal
if (principal < 0) {
principal = 0;
}
// Monthly Interest Rate
var monthlyRate = (interestRate / 100) / 12;
// Total Number of Payments
var totalPayments = loanTerm * 12;
// Monthly Principal & Interest Calculation
var monthlyPI = 0;
if (interestRate === 0) {
monthlyPI = principal / totalPayments;
} else {
// Formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
monthlyPI = principal * (monthlyRate * Math.pow(1 + monthlyRate, totalPayments)) / (Math.pow(1 + monthlyRate, totalPayments) – 1);
}
// Monthly Tax and Insurance
var monthlyTax = annualTax / 12;
var monthlyInsurance = annualInsurance / 12;
// Total Monthly Payment
var totalMonthlyPayment = monthlyPI + monthlyTax + monthlyInsurance + monthlyHOA;
// Display Results
document.getElementById('res-pi').innerText = formatCurrency(monthlyPI);
document.getElementById('res-tax').innerText = formatCurrency(monthlyTax);
document.getElementById('res-ins').innerText = formatCurrency(monthlyInsurance);
document.getElementById('res-hoa').innerText = formatCurrency(monthlyHOA);
document.getElementById('res-total').innerText = formatCurrency(totalMonthlyPayment);
document.getElementById('res-loan-amount').innerText = formatCurrency(principal).replace('.00', '');
// Show results div
resultsDiv.style.display = 'block';
}
function formatCurrency(num) {
return '$' + num.toFixed(2).replace(/\d(?=(\d{3})+\.)/g, '$&,');
}
Comprehensive Mortgage Calculator
Please enter valid positive numbers for all required fields.
Principal & Interest:
$0.00
Property Tax:
$0.00
Home Insurance:
$0.00
HOA Fees:
$0.00
Total Monthly Payment:
$0.00
Total Loan Amount: $0
Understanding Your Mortgage Payments
Purchasing a home is one of the most significant financial decisions you will make. This Comprehensive Mortgage Calculator helps you estimate your total monthly housing costs, ensuring you have a clear picture of what you can afford before entering the real estate market.
Unlike basic calculators that only show Principal and Interest, this tool includes critical monthly expenses like property taxes, homeowner's insurance, and HOA fees, which can significantly impact your monthly budget.
Key Components of Your Monthly Payment
- Principal: The portion of your payment that goes toward paying down the loan balance.
- Interest: The cost of borrowing money from your lender. Higher interest rates significantly increase your monthly payment and total loan cost.
- Escrow Costs: Most lenders require you to pay a portion of your annual Property Taxes and Homeowner's Insurance monthly into an escrow account.
How Interest Rates Affect Affordability
Even a small fluctuation in interest rates can drastically change your buying power. For example, on a $400,000 loan, a 1% increase in interest rate can raise your monthly payment by hundreds of dollars. Use this calculator to experiment with different interest rate scenarios to see how they impact your bottom line.
Loan Term Considerations
Choosing between a 15-year and a 30-year fixed mortgage involves a trade-off. A 15-year term typically offers a lower interest rate and saves you thousands in total interest over the life of the loan, but it comes with a much higher monthly payment. A 30-year term offers lower monthly payments, improving cash flow, but results in higher total interest costs.
Steps to Use This Calculator
- Enter Home Price: The purchase price of the property.
- Input Down Payment: The cash you pay upfront. A higher down payment reduces your loan amount and monthly payment.
- Set Interest Rate & Term: Input the current market rate and your desired loan duration (usually 15 or 30 years).
- Add Taxes & Insurance: Estimate your annual property tax (often 1-2% of home value) and insurance costs to get an accurate total.
By accurately estimating these figures, you can confidently search for homes that fit within your financial comfort zone.