attribute -- it certainly makes no sense to keep the plain HTML - it should rather have some JavaScript function like 'calculate()' associated with it. Mortgage Amortization Calculator Calculate Your Payments Loan Amount: Interest Rate: % Loan Term: Years function calculate(){ // Get values from the form var loanAmt = document.querySelector('[name=loanAmount]').value; var intRate = document.querySelector('[name=interestRate]').value/100/12; var loanTerm = document.querySelector('[name=loanTerm]').value * 12; // Calculate and display the results document.getElementById('result').innerHTML = 'Monthly Payment: $' + (loanAmt * intRate / (1 - Math.pow(1 / (1 + intRate), loanTerm))).toFixed(2); } The Basics of Mortgage Amortization Calculators Knowing how to use a mortgage amortization calculator is essential if you’re thinking about buying a home. This type of calculator helps you better understand the loan process by breaking down the details. After all, when it comes to making such a significant financial decision, the more information you have, the better. Mortgage amortization calculators can give you an estimate of your loan amount and loan payment for a specific monthly payment. These tools help you project how much you’ll have to pay on your loan over time. Mortgage amortization calculators are based on the amortization period, which is the amount of time it takes to pay off the loan balance. Generally, mortgage amortization calculators are free and accessible online. Some sites offer more complex calculators that require more information, like taxes and insurance, while others offer a simpler, basic version. Regardless of the one you choose, these calculators offer a useful and efficient way to estimate your total loan cost with just a few clicks. Comparing Mortgage Options With a Free Mortgage Amortization Calculator A free mortgage amortization calculator can help you get a rough estimate of how much your loan will cost. It can also help you compare different loan terms and payment plans, allowing you to determine which one will work best for your situation. This type of calculator is an excellent tool for exploring different loan options and understanding how they may impact your financial future. Using a free mortgage amortization calculator can help you look at different loan options and amounts. You can compare different loan amounts, repayment terms, and interest rates. For example, if you’re considering a 15-year fixed-rate mortgage versus a 30-year fixed-rate mortgage, you can use the calculator to compare the cost, monthly payment, and total interest paid for each one. When you use a mortgage amortization calculator, make sure to include all costs associated with your loan, such as taxes, insurance, and closing costs. Also, bear in mind that the mortgage rate you receive may be higher than the rate you used to calculate your estimated loan payment. Using a Free Mortgage Amortization Calculator To Decide How Much To Borrow Your monthly mortgage payment is heavily impacted by how much you choose to borrow. If you borrow more, you will make larger monthly payments over a longer period of time, which will cost you more in interest. If you borrow less, then your monthly payments will be lower but you may end up paying more for the home than you need to. A free mortgage amortization calculator can help you determine the appropriate loan amount for your needs. You can input your available cash, desired monthly payment, and the time frame you want to complete the loan in. From there, the calculator can tell you the estimated loan amount you would need to make your desired payment. This makes it easier for you to determine the amount you should borrow and the loan terms that will work best for you. Tips on Using a Free Mortgage Amortization Calculator When using a mortgage amortization calculator, here are some key things to keep in mind: Make sure to input all the relevant information such as loan amount, interest rate, term, and taxes. Double check that you’ve entered the correct loan amount, as this will have a major impact on your payment. If the calculator gives you a series of different payments or scenarios, compare them carefully to determine the best one for you. Be aware that the calculator only offers an estimate, and that actual payments may vary depending on your lender. Mortgage amortization calculators are an easy and convenient way to estimate your mortgage payments. With a free online calculator, it’s simple to compare different loan scenarios and understand the impact each option will have on your financial future. Just make sure to enter the necessary information accurately, double check your results, and consult with a lender before making any decisions.