Free Home Loan Mortgage Calculator
Estimate your home loan mortgage payments with this free online tool.
function calculateMortgage() { var loanAmount = parseFloat(document.getElementById(“loanAmount”).value); var interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12; var 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; } var monthlyPayment = loanAmount * interestRate / (1 – Math.pow(1 + interestRate, -loanTerm)); var totalPayment = monthlyPayment * loanTerm; var totalInterest = totalPayment – loanAmount; document.getElementById("monthlyPayment").value = monthlyPayment.toFixed(2); document.getElementById("totalPayment").value = totalPayment.toFixed(2); document.getElementById("totalInterest").value = totalInterest.toFixed(2); }