Best Online Mortgage Loan Calculator Please input the following information: Loan Amount: $ Interest Rate: % Term: Years Calculate Monthly Payment $ function calculateLoan() { // Get the user's input from the form. Assume it is all valid. // Convert interest from a percentage to a decimal, and convert from an annual rate to a monthly rate. // Convert payment period in years to the number of monthly payments. let principal = document.getElementById("input1").value; let interest = document.getElementById("input2").value / 100 / 12; let payments = document.getElementById("input3").value * 12; // Now compute the monthly payment figure. let x = Math.pow(1 + interest, payments); //Math.pow computes powers let monthly = (principal*x*interest)/(x-1); // Check that the result is a finite number. If so, display the results if (isFinite(monthly)) { document.getElementById("output").innerText = monthly.toFixed(2); } else { document.getElementById("output").innerText = "Sorry, please try again"; } } Introduction to Online Mortgage Loan Calculators Buying a home is no small feat and, if you’re like many homebuyers, you’re probably looking for every tool available to help you make the right decision. That’s where online mortgage loan calculators come in. These powerful tools can help you figure out exactly what you can afford and how long you’ll likely take to pay it off. The Benefits of Using Online Mortgage Loan Calculators One of the biggest benefits of using an online mortgage loan calculator is that you can quickly estimate how much you can afford. This helps you narrow down your search to homes that fit within your budget. You can also quickly get an idea of how long it will take to pay off a loan. This can be useful if you’re working with a tight timeline and want to be sure that you can pay off the loan before a certain date. Online mortgage loan calculators can also help you compare different loan products. Many calculators let you compare different loan terms to see which one fits your needs and budget the best. Therefore, you can make an informed decision based on the data provided by the calculator. Types of Online Mortgage Loan Calculators There are a number of different types of online mortgage loan calculators that you can use to help you determine your affordability. For instance, a payment calculator will provide you with information on your monthly payments and the number of months it will take to repay the loan. You can also use an affordability calculator to see how much you can borrow and if the mortgage you’re looking into is within your budget. Besides these two, there are many other types of online mortgage loan calculators you can find. Some allow you to compare different loan products on the market and some provide additional information such as the current interest rate. There are also calculators that let you enter specific information such as your income, debt, and other factors to come up with more accurate estimates. How to Find the Best Online Mortgage Loan Calculators When it comes to finding online mortgage loan calculators, the best place to start is the internet. There are hundreds of sites that offer a variety of calculators for free. Many of these sites also provide additional information on the different types of loans and terms available. Another great way to find the best online mortgage loan calculators is by asking friends, family, or colleagues who have recently bought a home. They may be able to point you in the direction of a reputable website or calculator they used when house hunting. Also, make sure to check out the websites of national and local lenders. Many of these lenders offer free loan calculators on their sites so you can easily compare their loan products. Conclusion Finding the right mortgage loan is a complex process, but online mortgage loan calculators can make it much easier. These calculators can provide you with accurate estimates on affordability, loan terms, and much more. Be sure to research and find the best online mortgage loan calculators that best suit your needs and budget.