Bank Mortgage Calculator Free

let stepsDetails = “”; function calculateMortgage() { stepsDetails = “”; 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 positive values for all fields."); return; } const monthlyPayment = (loanAmount * interestRate) / (1 – Math.pow(1 + interestRate, -loanTerm)); document.getElementById("monthlyPayment").value = monthlyPayment.toFixed(2); stepsDetails += `Inputs:
Loan Amount: $${loanAmount.toFixed(2)}
Interest Rate: ${(interestRate * 100 * 12).toFixed(2)}%
Loan Term: ${loanTerm / 12} years

`; stepsDetails += `Formula:
Monthly Payment = [Loan Amount × Interest Rate] / [1 – (1 + Interest Rate)^{-Loan Term}]

`; stepsDetails += `Result:
Monthly Payment: $${monthlyPayment.toFixed(2)}
`; if (document.getElementById(“calculationSteps”).style.display === “block”) { document.getElementById(“calculationSteps”).innerHTML = stepsDetails; } } function resetMortgage() { document.querySelectorAll(“#calculator input”).forEach(el => el.value = “”); stepsDetails = “”; document.getElementById(“calculationSteps”).innerHTML = “

Not calculated yet.

“; } function toggleSteps() { const steps = document.getElementById(“calculationSteps”); const arrow = document.getElementById(“toggleArrow”); if (steps.style.display === “none” || steps.style.display === “”) { steps.style.display = “block”; arrow.style.transform = “rotate(180deg)”; steps.innerHTML = stepsDetails || “

Not calculated yet.

“; } else { steps.style.display = “none”; arrow.style.transform = “rotate(0deg)”; } }