Mortgage Calculator Price of the House Interest Rate (%) Down Payment (%) Term (years) Monthly Payment $0 function calculate() { var price = document.getElementById("price").value; var interest = document.getElementById("interest").value; var downpayment = document.getElementById("downpayment").value; var term = document.getElementById("term").value; var loanAmount = price - (price * (downpayment/100)); var interest_per_month = interest / (12 * 100); var term_in_months = term * 12; var payment = loanAmount * (interest_per_month * Math.pow(1 + interest_per_month, term_in_months)) / (Math.pow(1 + interest_per_month, term_in_months) - 1); document.getElementById("result").innerHTML = "$" + payment.toFixed(2); } Financial Mentors Help You Find the Best Mortgage Calculator If you’re in the market for a mortgage, then you know that the cost of buying a home can be considerable. With the right mortgage calculator, you’ll be able to quickly determine which loan option is the best for you. Unfortunately, all too often prospective buyers may be overwhelmed by the number of choices out there and are not sure where to begin. That’s why enlisting the services of a financial mentor is a great way to get the assistance you need to make an informed decision on your mortgage. A financial mentor can help you think through the nuances of the loan options presented to you, so that you can be confident in the one you choose. They are able to explain all the factors that influence a mortgage, as well as provide you with guidance on when the best time would be to purchase. It is also important that you realize the consequences of entering into a mortgage. Given the amount of debt we’re talking about here, it is important to move forward responsibly. Financial mentors can help you with the language of mortgages and be sure that you’re fully aware of the ramifications of the loan you’re taking out and its duration. The Process for Selecting a Mortgage Calculator Financial mentors can provide assistance when it comes to finding a good mortgage calculator. There are many out there, so understanding what all the options entail is important. A financial mentor can help you review the features of each calculator, including the number of years of a loan the calculator accounts for, interest calculations, and the closing costs calculator. Once you’ve determined which features are important to you, you can narrow down your options to just a few calculators that fit your particular needs. In addition to helping you conduct your search for the right calculator, the financial mentor will take the time to ensure you can use the calculator effectively. An experienced financial mentor can help you answer questions about how to properly enter information into the calculator and how to interpret the results you’re seeing. This is crucial to getting the most out of your mortgage calculator. What Do Financial Mentors Do? The role of the financial mentor is to be a sounding board and source of advice on mortgages. In addition to helping you choose the right mortgage calculator, a financial mentor can also help you understand mortgage rates and the nuances of the application process. You’ll be able to ask your financial mentor questions about closing costs, down payments, and any other financial questions you might have about the loan process. Financial mentors can also help take the guesswork out of the loan process, since current homeowners can provide the inside knowledge that homebuyers often don’t have. Knowing what to expect in terms of paperwork, timeline, costs, and other variables can pave the way for a successful loan. Finally, financial mentors can provide guidance on budgeting to make sure you can make your loan payments on time and in full. Even if you have other loans or commitments, those should be factored into the budget to ensure loan payments are made without issue. Finding the Right Financial Mentor and Mortgage Calculator Ensuring you have a trustworthy financial mentor is key to finding the best mortgage calculator and loan. You can search for the right financial mentor to pair with the right calculator online. Many times, financial mentors will be able to assist you with the process without charging a fee. It is important to look for (1) a financial mentor that you trust, (2) a mortgage calculator with the features you need, and (3) a company or institution you feel comfortable with for the application process. Beyond that, it’s important to consider how a financial mentor can be useful to you beyond the mortgage application. Consider how else the knowledge and advice a financial mentor can provide can help you become better at saving, tracking your spending, and building good credit, all of which will be useful to applying and securing the best loan suit for you for the life of the loan. Making the Decision Finding the right mortgage calculator for you isn’t always easy, but with the help of a financial mentor, it can be a relatively straightforward process. Additionally, getting the assistance of a financial mentor paired with the data you get from a mortgage calculator can help you make an informed decision on the loan that is best for you. In the end, you’ll be much better off with the knowledge that comes from a financial mentor and the figures you get with the right calculator.