Mortgage Calculator Principal: Property Tax Rate (per year): % Interest Rate (per year): % Loan Term: years Monthly Payment: function calculate() { //Retrieve input from user and convert to number let p = parseFloat(document.getElementById("principal").value.replace("$", "")); let r = parseFloat(document.getElementById("interestrate").value); let n = parseInt((document.getElementById("loanterm").value)) * 12; r = (r / 100) / 12; let t = parseFloat(document.getElementById("taxrate").value); t = t / 12; //Calculate the total payment let totalPayment = ( (r * (p + p * t) ) / (1-(Math.pow(1+r,(-1*n)))) ) * n; document.getElementById("payment").innerHTML = '$' + totalPayment.toFixed(2); } What To Know About Bankrate Calculators and Mortgages When it comes to making a large purchase such as a home, it is essential to fully understand the numbers associated and what is involved. Bankrate calculators and mortgages provide people with a tool to easily calculate monthly payment amounts before they even become a homeowner. Calculators provide a great way to get a clear view of how much of a mortgage an individual can take on before feeling burdened. Homeowners, and people about to become homeowners, should be aware of the financial implications associated with a mortgage and the impact they can have over time. Bankrate calculators and mortgages are the perfect tool to help make important decisions when it comes to buying a home. What is Bankrate? Bankrate is an American financial services company that specializes in providing people with helpful tools to assist with large purchases. Bankrate's calculators are incredibly popular and can be found on many financial websites. Bankrate's calculators and mortgages can be used to understand basic information about taking out a loan. The goal of Bankrate is to provide individuals and consumers with helpful tools to make decisions. These tools have helped people become more financially independent and make more educated choices about taking out a loan. Bankrate strives to provide clear and concise information so that people can make the best decisions without feeling overwhelmed. Using Bankrate's Mortgage Calculator Bankrate's mortgage calculator is a simple, yet powerful tool to understand the different calculations associated with taking out a loan. This calculator helps people understand what their monthly payment will be based on the loan amount, interest rate, and length of the loan. When using Bankrate's mortgage calculator, individuals will need to input the amount of the loan, the annual interest rate, and the duration of the loan. This calculator will then display the monthly payment amount based on the inputted information. This calculator also allows individuals to view an amortization schedule, which will provide a breakdown of how much of each payment goes towards principle and interest. Using a mortgage calculator can help people understand the basics of taking out a loan. It also allows individuals to understand how much they can afford and their overall financial obligations before making a large purchase. Bankrate has made it easy for people to use calculators and mortgages with their user-friendly website. Additional Resources for Homeowners Bankrate provides homebuyers and homeowners with a variety of resources to review and consider before making a large purchase. Bankrate offers a variety of mortgage types to consider based on individual needs and goals. There are fixed-rate mortgages, adjustable-rate mortgages, jumbo loans, FHA loans, and many more types to choose from. There are even tools and resources to compare different choices and see which one is best for an individual’s specific situation. Bankrate also offers other helpful tools and resources for homeowners. These include loan repayment calculators, refinance calculators, mortgage rate comparison tools, and more. All of these different resources make it easier for people to make more informed decisions about their financial life. Having access to calculators and resources can make a daunting decision much easier for individuals and homeowners. Conclusion When it comes to taking out a loan, it is always best for individuals to understand the details of the financial obligations. Bankrate calculators and mortgages can help provide more clarity on what to expect and how much a loan could cost each month. Individuals should always use tools and resources to help make informed decisions on large purchases such as a home. Bankrate provides people with a wealth of tools to make the process easier and less overwhelming.