Bad Credit Home Income Loan Calculator

let loanSteps = “”; const currencySymbol = “$”, fixedCurrency = “USD”; function calculateLoan(){ loanSteps=””; const income = parseFloat(document.getElementById(“income”).value); const creditScore = parseFloat(document.getElementById(“creditScore”).value); const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const loanTerm = parseFloat(document.getElementById(“loanTerm”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value); if (isNaN(income) || isNaN(creditScore) || isNaN(loanAmount) || isNaN(loanTerm) || isNaN(interestRate) || income <= 0 || loanAmount <= 0 || loanTerm <= 0 || interestRate <= 0) { alert("Please enter valid positive values for all fields."); return; } // Loan Eligibility Logic let eligibility = "Eligible"; if (creditScore < 600) { eligibility = "Not Eligible (Credit Score too low)"; } // Loan Payment Calculation const monthlyInterest = (interestRate / 100) / 12; const numberOfPayments = loanTerm * 12; const monthlyPayment = (loanAmount * monthlyInterest) / (1 – Math.pow(1 + monthlyInterest, -numberOfPayments)); document.getElementById("monthlyPayment").value = formatCurrency(monthlyPayment); document.getElementById("loanEligibility").value = eligibility; loanSteps += `Inputs:
Income: ${formatCurrency(income)}
Credit Score: ${creditScore}
Loan Amount: ${formatCurrency(loanAmount)}
Loan Term: ${loanTerm} years
Interest Rate: ${interestRate}%

`; loanSteps += `Formulas:
Monthly Payment = (Loan Amount × Monthly Interest) / (1 – (1 + Monthly Interest)^-Payments)

`; loanSteps += `Results:
Monthly Payment: ${formatCurrency(monthlyPayment)}
Loan Eligibility: ${eligibility}`; if (document.getElementById(“calculationStepsLoan”).style.display === “block”) { document.getElementById(“calculationStepsLoan”).innerHTML = loanSteps; } } function resetLoan(){ document.querySelectorAll(“#calculator input”).forEach(el => el.value = “”); loanSteps = “”; document.getElementById(“calculationStepsLoan”).innerHTML = “

Not calculated yet.

“; } function toggleLoanSteps(){ const s = document.getElementById(“calculationStepsLoan”); const a = document.getElementById(“toggleArrowLoan”); if (s.style.display === “none” || s.style.display === “”) { s.style.display = “block”; a.style.transform = “rotate(180deg)”; s.innerHTML = loanSteps || “

Not calculated yet.

“; } else { s.style.display = “none”; a.style.transform = “rotate(0deg)”; } } function formatCurrency(n) { return currencySymbol + n.toFixed(2) + ” ” + fixedCurrency; }