Home Equity Loan Calculator Missouri

let equitySteps = “”; const currencySymbol = “$”, fixedCurrency = “USD”; function calculateHomeEquity(){ equitySteps=””; const homeValue = parseFloat(document.getElementById(“homeValue”).value); const mortgageBalance = parseFloat(document.getElementById(“mortgageBalance”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100; const loanTerm = parseInt(document.getElementById(“loanTerm”).value); if(isNaN(homeValue) || isNaN(mortgageBalance) || isNaN(interestRate) || isNaN(loanTerm) || homeValue <= 0 || mortgageBalance <= 0 || loanTerm <= 0){ alert("Please enter valid positive values for all fields."); return; } const maxLoanAmount = (homeValue – mortgageBalance) * 0.85; document.getElementById("equityResult").value = formatCurrency(maxLoanAmount); equitySteps += `Inputs:
Home Value: ${formatCurrency(homeValue)}
Mortgage Balance: ${formatCurrency(mortgageBalance)}
Interest Rate: ${(interestRate * 100).toFixed(1)}%
Loan Term: ${loanTerm} years

`; equitySteps += `Formula:
Max Loan Amount = (Home Value – Mortgage Balance) × 85%

`; equitySteps += `Results:
Estimated Loan Amount: ${formatCurrency(maxLoanAmount)}
`; equitySteps += `Tip: The higher your home value and the less you owe on your mortgage, the more you can borrow in a home equity loan.`; if(document.getElementById(“calculationStepsEquity”).style.display === “block”){ document.getElementById(“calculationStepsEquity”).innerHTML = equitySteps; } } function resetHomeEquity(){ document.querySelectorAll(“#calculator input”).forEach(el => el.value = “”); equitySteps = “”; document.getElementById(“calculationStepsEquity”).innerHTML = “

Not calculated yet.

“; } function toggleEquitySteps(){ const s = document.getElementById(“calculationStepsEquity”); const a = document.getElementById(“toggleArrowEquity”); if(s.style.display === “none” || s.style.display === “”){ s.style.display = “block”; a.style.transform = “rotate(180deg)”; s.innerHTML = equitySteps || “

Not calculated yet.

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