Money Smart Calculator Mortgage
Money Smart Mortgage Calculator
Calculate your mortgage repayments based on your loan amount, interest rate, and loan term.
Not calculated yet.
Loan Amount: ${formatCurrency(loanAmount)}
Interest Rate: ${(interestRate * 100 * 12).toFixed(2)}%
Loan Term: ${loanTerm / 12} Years
`; mortgageSteps += `Formula:
Monthly Payment = (Loan Amount × Interest Rate) / (1 – (1 + Interest Rate)^(-Loan Term))
`; mortgageSteps += `Results:
Estimated Monthly Payment: ${formatCurrency(monthlyPayment)}
`; if(document.getElementById(“calculationStepsMortgage”).style.display===”block”){ document.getElementById(“calculationStepsMortgage”).innerHTML = mortgageSteps; } } function resetMortgage(){ document.querySelectorAll(“#calculator input”).forEach(el => el.value = “”); mortgageSteps=””; document.getElementById(“calculationStepsMortgage”).innerHTML = “
Not calculated yet.
“; } function toggleMortgage