Flexible Mortgage Calculator Loan Amount: Length of Loan (years): Interest Rate: 30-yr fixed - 8.134% 15-yr fixed - 7.153% 10/6 ARM - 7.957% Calculate Total Cost: function calculate(){ var loanAmount = parseFloat(document.getElementById('loan').value); var lengthOfLoan = parseFloat(document.getElementById('years').value); var interest = parseFloat(document.getElementById('interest').value); var totalCost = (loanAmount * Math.pow((1 + interest), lengthOfLoan)*interest/(Math.pow((1+interest),lengthOfLoan)-1)).toFixed(2); document.getElementById('totalCost').innerHTML = 'Total Cost: ' + totalCost; } Introduction to Flexible Mortgage Calculators It's common that individuals and families want to purchase a home and take out a mortgage to finance it. When it comes to mortgages, it can seem overwhelming to sort out the details, especially with the variety of loan options and financial terms involved. That's why flexible mortgage calculators can be so useful. Flexible mortgage calculators have been designed to be easy to use and understand for those who are new to the world of mortgages. That means that with just a few simple steps, you can easily compare loan options, determine your budget, and figure out the best way to move forward in purchasing a home. What Information is Needed for Flexible Mortgage Calculators? When it comes to a flexible mortgage calculator, there are a few pieces of information that will need to be entered in order to get the most accurate results. For starters, you will need to enter basic information about yourself such as your name, address, and social security number. This information is typically needed for the lender to verify your identity. The next thing that you will need to enter is the type of loan you are looking for. This includes such factors as the amount of the loan, the interest rate, the repayment period, and any other special features included with the loan. Once you have the loan information entered, you can then figure out the estimated monthly payments, taxes, and other costs associated with the loan. Finally, you will also need to enter any additional costs that you may want to consider when purchasing a home. These can include closing costs, inspection fees, real estate taxes, and other related costs. What Can Flexible Mortgage Calculators Tell You? Flexible mortgage calculators are extremely useful tools that can help you make informed decisions when it comes to purchasing a home. By entering the information that has been discussed above, flexible mortgage calculators can tell you the estimated monthly payment for the loan, what the interest rate is for the loan, and the expected repayment period. It can also tell you how much money you will need to put down in order to secure the loan. In addition, they can also provide an estimated timeline for the loan. This will allow you to properly budget and plan for the purchase of the home and also give you an idea of how long it will take for the loan to be repaid. Additionally, they can also provide an estimate of the loan's interest rate. This will help you get an idea of what your financial obligations are before signing the loan. Conclusion Flexible mortgage calculators can be a great tool for those looking to purchase a home. Not only do they allow you to compare different loan options and determine a budget, but they can also provide critical information such as the estimated loan payments, repayment period, and estimated interest rate. With these pieces of information, you can make an informed decision when it comes to purchasing a home and securing a mortgage.