Home Loan Extra Payments Calculator
Calculate how additional payments on your home loan can impact the total interest paid and the loan term.
function calculateHomeLoan(){
const loanAmount = parseFloat(document.getElementById(“loanAmount”).value);
const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12;
const loanTerm = parseInt(document.getElementById(“loanTerm”).value) * 12;
const extraPayment = parseFloat(document.getElementById(“extraPayment”).value);
if(isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(extraPayment) || loanAmount <= 0 || interestRate <= 0 || loanTerm 0) {
remainingBalance -= (standardPayment + extraPayment);
newLoanTerm–;
if (remainingBalance el.value = “”);
}
