Compare Lowest Mortgage Rates Calculator

let mortgageSteps = “”; function calculateMortgage(){ mortgageSteps=””; const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const loanTerm = parseInt(document.getElementById(“loanTerm”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100; if(isNaN(loanAmount) || isNaN(loanTerm) || isNaN(interestRate) || loanAmount <= 0 || loanTerm <= 0 || interestRate <= 0){ alert("Please enter valid positive values for all fields."); return; } const monthlyInterestRate = interestRate / 12; const numberOfPayments = loanTerm * 12; const monthlyPayment = (loanAmount * monthlyInterestRate) / (1 – Math.pow(1 + monthlyInterestRate, -numberOfPayments)); document.getElementById("monthlyPayment").value = formatCurrency(monthlyPayment); mortgageSteps += `Inputs:
Loan Amount: ${formatCurrency(loanAmount)}
Loan Term: ${loanTerm} years
Interest Rate: ${(interestRate * 100).toFixed(2)}%

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

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

Not calculated yet.

“; } function toggleCalculationSteps(){ const s = document.getElementById(“calculationSteps”); const a = document.getElementById(“toggleArrow”); if(s.style.display === “none” || s.style.display === “”){ s.style.display = “block”; a.style.transform = “rotate(180deg)”; s.innerHTML = mortgageSteps || “

Not calculated yet.

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