code Lending Tree Mortgage Calculator Principal: Interest Rate: Mortgage Years: Monthly Payment: $0.00 //This is the function to calculate monthly payment function compute(){ //This is declaring the variables we will use var principle = document.getElementById("principle").value; var interest = document.getElementById("interest").value/100/12; var payments = document.getElementById("years").value * 12; //This is the formula to calculate monthly payment var x = Math.pow(1 + interest, payments); var monthly = (principle*x*interest)/(x-1); //If the result is a finite number, the payment and the total amount of payment will be displayed if (isFinite(monthly)) { document.getElementById("payment").innerHTML = "<b>$" + monthly.toFixed(2) + "</b>"; } } Important Insights for Using Lending Tree Mortgage Calculators If you are considering taking out a loan to purchase a new home or refinance an old mortgage, chances are you have spent time looking into the variety of loan options available. While online lenders and banking websites provide you with a variety of lending options, using Lending Tree mortgage calculators may be your best bet for finding the most competitive lending rates on the market. When it comes to applying for a mortgage, it is important to have an accurate understanding of what you can expect when it comes to borrowing costs and monthly payments. Lending Tree provides users with free and easy to use mortgage calculation tools, offering the ability to compare various loan types and find the best one for your individual financial situation. Using a Lending Tree mortgage calculator can help you to gain useful knowledge and make the process of shopping for a mortgage easier. Types of Mortgage Calculators Available Lending Tree offers a range of calculators used to help estimate potential payments and costs associated with taking out a loan, including: Mortgage Payment Calculator: Homebuyers can use this calculator to determine monthly payments, as well as understand the various loan terms associated with each mortgage product. This calculator can also be used to determine how large of a loan you can expect to qualify for. How Much Can I Afford Calculator: With this calculator, users can enter their take home income, debt obligations, and total down payment, all while adjusting for other costs associated with homeownership. The calculator will then advise how much of a monthly payment amount you can reasonably afford. Refinance Calculator: Those who are looking to refinance their existing mortgage can use this calculator to see potential savings by switching to a new loan option. ARM vs. Fixed Rate Calculator: This calculator can help Homeowners and eager buyers determine which mortgage product is best for their needs. Comparing different loan types provides an understanding of the risks associated with each product. Tools For Evaluating Multiple Loan Options When you use Lending Tree mortgage calculators, you will not only be able to estimate the total costs of a loan and monthly payments associated with it, you will also be able to compare and evaluate potential loans from different lenders. With Lending Tree, you can request detailed information from several lenders, compare each lender’s offerings, and find the loan that best meets your needs. Plus, when using Lending Tree’s loan search tool, you won’t be charged any fees or incur any hidden costs. Using Lending Tree, you will be able to obtain customized and competitive loan rates and terms without the headache of searching around for lenders. Furthermore, you can access all of Lending Tree’s mortgage calculators and other loan search tools for free. In addition, the platform offers helpful resources such as financial planners, credit counselors, and advice from experienced lenders and real estate professionals to ensure that you can make an informed decision. More To Consider It is important to note that when you use Lending Tree mortgage calculators, you are not committing to borrowing money from any of the lenders presented. You are simply using the platform to obtain a quick overview of the loan terms, monthly payments, and payments required. When you find the loan that fits your needs, the lender will provide you with an official loan estimate. Once you receive the loan estimate, you may or may not decide to move forward with the loan. Be sure to consider all the information you have found before deciding to take out a loan. Keeping the loan term and the interest rate in mind, along with the cost of closing and monthly payments, are all important things to think about. Although Lending Tree provides a convenient and free way to shop for a loan, it is ultimately up to you to make the best decision and find a loan suited to your individual needs.