Lowest Rate Mortgage Online Calculator
Estimated Monthly Payment: $0.00
function calculateLowestRateMortgage() {
var loanAmount = parseFloat(document.getElementById(“loanAmount”).value);
var interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12;
var loanTerm = parseInt(document.getElementById(“loanTerm”).value) * 12;
if (!isNaN(loanAmount) && !isNaN(interestRate) && !isNaN(loanTerm)) {
var monthlyPayment = loanAmount * interestRate / (1 – Math.pow(1 + interestRate, -loanTerm));
document.getElementById(“monthlyPayment”).value = monthlyPayment.toFixed(2);
document.getElementById(“monthlyPaymentResult”).textContent = “$” + monthlyPayment.toFixed(2);
} else {
alert(“Please enter valid values for all fields.”);
}
}
