Enter the details of your VA loan, including the loan amount, interest rate, loan term, property tax, home insurance, and PMI rate to estimate your monthly payment. This calculator factors in PMI, property taxes, and home insurance to give you an accurate total monthly payment.
function calculateVA() {
var loanAmount = parseFloat(document.getElementById(“loanAmount”).value);
var interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100;
var loanTerm = parseInt(document.getElementById(“loanTerm”).value);
var propertyTax = parseFloat(document.getElementById(“propertyTax”).value);
var homeInsurance = parseFloat(document.getElementById(“homeInsurance”).value);
var pmiRate = parseFloat(document.getElementById(“pmiRate”).value) / 100;
if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(propertyTax) || isNaN(homeInsurance) || isNaN(pmiRate)) {
alert(“Please enter all the fields correctly.”);
return;
}
var monthlyInterestRate = interestRate / 12;
var numberOfPayments = loanTerm * 12;
var pmiPayment = loanAmount * pmiRate / 12;
var baseMortgagePayment = (loanAmount * monthlyInterestRate) / (1 – Math.pow(1 + monthlyInterestRate, -numberOfPayments));
var totalPayment = baseMortgagePayment + propertyTax / 12 + homeInsurance / 12 + pmiPayment;
document.getElementById(“monthlyPayment”).innerHTML = “$” + totalPayment.toFixed(2);
}
