Javascript Mortgage Calculator Php

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This application is a Mortgage Calculator for your site viewers that gives them an idea of what their monthly breakdown of payment will look like. It includes output of an Amortization schedule along with estimated costs for other items involved in a loan payment (PMI, Taxes etc.). The application. Find out how much developers like you are making with our Salary Calculator, now updated with 2018 Developer Survey data. How to calculate mortgage in javascript. Find out how much developers like you are making with our Salary Calculator, now updated with 2018 Developer Survey data. Compare salary. Log In Sign Up; current community. Stack Overflow. How to calculate mortgage in javascript. Ask Question. Up vote 3 down vote favorite. I have formula for finding monthly payment with four.

Javascript Mortgage Calculator Php

Leeb003 / php-mortgage-calculator. Pull requests 0. Projects 0 Insights Dismiss. These are all of the page scripts used including the ajax jsonp requests, the waiting function and all of the javascript partaining to the calculator; popupScripts.js - These are the javascript pieces needed for the calculator if the results are. The results of this loan payment calculator are for comparison purposes only. They will be a close approximation of actual loan repayments if available at the terms entered, from a financial institution. This is being provided for you to plan your next loan application. To use, enter values for the.

Active4 years, 6 months ago

I just found a mortgage calculator function:

So if I do:

it return me 897.23$.

The problem is that, if I compare with BMO Bank or duproprio.com calculators, it seem that my function is not exactly working as on the 2 other sites, the result is 895,93$.

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Javascript Mortgage Calculator

Can someone help me figuring out why it doesn't return the good amount?

Thanks alot

SteveSteve

3 Answers

Ive converted the Balance calculation portion of http://www.secureapp.com/tools/mortgage.html into a PHP function (Also ive added a down payment variable) and given an usage example:

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MikeMike

Instead of compounding monthly, compound the mortgage every 6 months.

Canadian mortgages are compounded every 6 months not monthly.

With the exception of variable rate mortgages, all mortgages are compounded semi-annually, by law. Therefore, if you are quoted a rate of 6% on a mortgage, the mortgage will actually have an effective annual rate of 6.09%, based on 3% semi-annually. However, you make your interest payments monthly, so your mortgage lender needs to use a monthly rate based on an annual rate that is less than 6%. Why? Because this rate will get compounded monthly. Therefore, we need to find the rate that compounded monthly, results in an effective annual rate of 6.09%. Mathematically, this would be:

Javascript Mortgage Calculator Script

(1+rM)12-1 = 0.0609

rM = (1.0609)1/12

rM = 0.493862…%

Source: http://www.yorku.ca/amarshal/mortgage.htm

Build a javascript calculatorJavascript Mortgage Calculator Php
user2755660user2755660

Your calculation is ok - se this mortgage calculator : http://aprc.eu/index.php?page=APR-loan-calculator

The difference of your result and cited Bank calcultor stems from different assumptions. The formula you use is for monthly payments at the end of the month. If the payments are made at the beginning of the month, then iterests are lower, hence payment may be lower too.

Free Javascript Mortgage Calculator

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