.calc-wrapper {
background: #f9f9f9;
border: 1px solid #e0e0e0;
border-radius: 8px;
padding: 25px;
margin-bottom: 30px;
box-shadow: 0 4px 6px rgba(0,0,0,0.05);
}
.calc-row {
display: flex;
flex-wrap: wrap;
margin-bottom: 15px;
gap: 15px;
}
.calc-col {
flex: 1;
min-width: 200px;
display: flex;
flex-direction: column;
}
.calc-label {
font-weight: 600;
margin-bottom: 5px;
color: #333;
font-size: 14px;
}
.calc-input {
padding: 10px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 16px;
}
.calc-btn {
background-color: #0073aa;
color: white;
border: none;
padding: 12px 20px;
font-size: 16px;
font-weight: bold;
border-radius: 4px;
cursor: pointer;
width: 100%;
margin-top: 10px;
transition: background-color 0.3s;
}
.calc-btn:hover {
background-color: #005177;
}
.calc-results {
margin-top: 25px;
padding-top: 20px;
border-top: 1px solid #ddd;
display: none;
}
.result-box {
background: #fff;
padding: 15px;
border-radius: 4px;
border: 1px solid #eee;
margin-bottom: 10px;
text-align: center;
}
.result-label {
display: block;
font-size: 13px;
color: #666;
text-transform: uppercase;
letter-spacing: 0.5px;
}
.result-value {
display: block;
font-size: 24px;
font-weight: 700;
color: #2c3e50;
margin-top: 5px;
}
.calc-error {
color: #d32f2f;
font-size: 14px;
margin-top: 10px;
display: none;
}
.seo-content h2 {
color: #2c3e50;
border-bottom: 2px solid #0073aa;
padding-bottom: 10px;
margin-top: 30px;
}
.seo-content p {
line-height: 1.6;
color: #444;
margin-bottom: 15px;
}
.seo-content ul {
margin-bottom: 20px;
padding-left: 20px;
}
.seo-content li {
margin-bottom: 8px;
line-height: 1.5;
}
function calculateMortgage() {
// Get input values
var homePrice = parseFloat(document.getElementById("mc_homePrice").value);
var downPayment = parseFloat(document.getElementById("mc_downPayment").value);
var annualRate = parseFloat(document.getElementById("mc_interestRate").value);
var years = parseInt(document.getElementById("mc_loanTerm").value);
var errorDiv = document.getElementById("mc_error");
var resultsDiv = document.getElementById("mc_results");
// Validation
if (isNaN(homePrice) || isNaN(downPayment) || isNaN(annualRate) || isNaN(years) || homePrice <= 0 || annualRate < 0) {
errorDiv.style.display = "block";
resultsDiv.style.display = "none";
return;
}
// Logic logic
var principal = homePrice – downPayment;
if (principal <= 0) {
errorDiv.innerText = "Down payment cannot equal or exceed home price.";
errorDiv.style.display = "block";
resultsDiv.style.display = "none";
return;
}
errorDiv.style.display = "none";
// Interest calculations
var monthlyRate = (annualRate / 100) / 12;
var numberOfPayments = years * 12;
var monthlyPayment = 0;
if (monthlyRate === 0) {
monthlyPayment = principal / numberOfPayments;
} else {
monthlyPayment = (principal * monthlyRate * Math.pow(1 + monthlyRate, numberOfPayments)) / (Math.pow(1 + monthlyRate, numberOfPayments) – 1);
}
var totalCost = monthlyPayment * numberOfPayments;
var totalInterest = totalCost – principal;
// Formatting currency
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2
});
// Display results
document.getElementById("mc_monthlyPayment").innerHTML = formatter.format(monthlyPayment);
document.getElementById("mc_totalInterest").innerHTML = formatter.format(totalInterest);
document.getElementById("mc_totalCost").innerHTML = formatter.format(totalCost);
resultsDiv.style.display = "block";
}
How to Use This Mortgage Calculator
Purchasing a home is one of the most significant financial decisions you will make. Our Mortgage Calculator is designed to give you a clear and immediate estimate of your monthly housing costs based on current market variables.
To get an accurate estimate, simply enter the price of the home you are interested in, your planned down payment, the interest rate offered by your lender, and the loan term (usually 15 or 30 years). The calculator will instantly process these figures to show your estimated monthly principal and interest payment.
Understanding Mortgage Calculation Factors
Several key components determine your monthly mortgage payment. Understanding these can help you choose the right loan product for your budget:
- Principal: This is the loan amount calculated by subtracting your down payment from the home price. A larger down payment reduces the principal and, consequently, the monthly payment.
- Interest Rate: The annual percentage rate (APR) charged by the lender. Even a fraction of a percentage point difference can significantly impact the total interest paid over the life of the loan.
- Loan Term: The duration of the loan. A 30-year term generally offers lower monthly payments but results in higher total interest costs compared to a 15-year term.
Why Calculate Your Mortgage Payments Before Buying?
Using a mortgage calculator before you start house hunting helps you set a realistic budget. It prevents the common pitfall of falling in love with a property that exceeds your financial comfort zone. By adjusting the "Home Price" and "Down Payment" fields above, you can test different scenarios to see exactly how much house you can afford while maintaining financial stability.
Note: This calculator provides estimates for principal and interest only. Don't forget to account for property taxes, homeowner's insurance, and private mortgage insurance (PMI) when planning your total monthly housing budget.