Mortgage Calculator Loan Amount: Interest Rate (APR): Loan Term: Monthly Payment: function calculatePayment() { var loanAmount = document.getElementsByName('loanAmount')[0].value.substring(1); //Remove '$' var interestRate = document.getElementsByName('interestRate')[0].value; // p = interest rate * .01 var loanTerm = document.getElementsByName('loanTerm')[0].value; // n=loan term * 12 var i = (interestRate * .01) / 12; var n = loanTerm * 12; var m = loanAmount * i * Math.pow((1+i),n) / ( Math.pow((1+i),n) - 1 ); document.getElementsByName('monthlyPayment')[0].value = "$" + m.toFixed(2); } Enhance Your Home Purchase Process by Utilizing Wells Fargo Mortgage Calculators Even with the most intense preparation before the purchase of a home, there are plenty of variables that make it difficult to figure out the true cost of the purchase. Fortunately, Wells Fargo provides several tools on their website that can make this task significantly easier. By utilizing the mortgage calculators available at wellsfargo.com/mortgage/tools/calculators, home buyers can make better decisions and be more confident in the accuracy of their purchase. The calculators on the Wells Fargo site are incredibly intuitive and useful. For instance, their mortgage payment calculator allows users to input a variety of information, including the loan amount, the interest rate, the loan term, and the down payment amount. This calculator will then inform the user of the estimated monthly mortgage payment as well as the total expenditure which includes principal, interest, taxes, and insurance. This calculator can also be used to compare the costs of multiple loan options. The Wells Fargo mortgage calculators also come with additional features that make them a valuable tool. For instance, users can explore the affordability of their home purchase with the affordability calculator. This calculator takes into account the user's credit score, monthly income, down payment amount, loan term, and other factors to provide an estimate of the purchase price the user can afford. This saves time for the user and ensures accuracy when exploring the affordability of potential homes. While the affordability calculator is a great feature, the savings calculators provided by Wells Fargo can be the most beneficial. Specifically, the Refinance calculator provides an estimate of what the user can save with a different loan product or terms. With the Shelter-in-Place Refinancing tool, Wells Fargo makes this process much easier and pulls all of the required information directly from users’ loan records. This calculator provides users with information about the potential savings they can get through refinancing. The calculators provided by Wells Fargo make it simpler for homebuyers to understand exactly how much their home purchase will cost and the financial implications of their decision. By visiting wellsfargo.com/mortgage/tools/calculators, interested users can take control of the home purchase process and make an informed decision about their purchase. Wells Fargo offers a great variety of useful tools and calculators to make the home purchase process easier and more intuitive for buyers. Using these calculators can help buyers make an informed decision and feel confident in their purchase. Whether you’re a first-time buyer, looking to refinance, or trying to purchase a new home, Wells Fargo’s calculators can help you understand the true cost of your purchase.