Rocket Mortgage Home Loan Calculator
function calculateMortgage() {
const loanAmount = parseFloat(document.getElementById(“loanAmount”).value);
const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12;
const loanTerm = parseFloat(document.getElementById(“loanTerm”).value) * 12;
if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0) {
alert("Please enter valid values for all fields.");
return;
}
const monthlyPayment = loanAmount * interestRate / (1 – Math.pow(1 + interestRate, -loanTerm));
document.getElementById("monthlyPayment").value = monthlyPayment.toFixed(2);
}
function resetCalculator() {
document.getElementById("rocketMortgageCalculator").reset();
document.getElementById("monthlyPayment").value = "";
}
