VA Loan Calculator 2022
Estimate your VA loan payments for the year 2022
Monthly Payment: $0.00
Total Interest Paid: $0.00
Total Payment Over Loan Term: $0.00
function calculateVA() {
const loanAmount = parseFloat(document.getElementById(‘loanAmount’).value);
const interestRate = parseFloat(document.getElementById(‘interestRate’).value) / 100 / 12;
const loanTerm = parseInt(document.getElementById(‘loanTerm’).value) * 12;
const downPayment = parseFloat(document.getElementById(‘downPayment’).value);
const propertyTax = parseFloat(document.getElementById(‘propertyTax’).value) / 12;
const insurance = parseFloat(document.getElementById(‘insurance’).value) / 12;
if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(downPayment) || isNaN(propertyTax) || isNaN(insurance)) {
alert(“Please enter valid values for all fields.”);
return;
}
const principal = loanAmount – downPayment;
const monthlyInterest = principal * interestRate;
const monthlyPayment = (principal * interestRate) / (1 – Math.pow(1 + interestRate, -loanTerm));
const totalInterest = (monthlyPayment * loanTerm) – principal;
const totalPayment = monthlyPayment * loanTerm + (propertyTax * loanTerm) + (insurance * loanTerm);
document.getElementById(‘monthlyPayment’).textContent = monthlyPayment.toFixed(2);
document.getElementById(‘totalInterest’).textContent = totalInterest.toFixed(2);
document.getElementById(‘totalPayment’).textContent = totalPayment.toFixed(2);
}
