Bi-weekly mortgage calculator • Monthly mortgage calculator • Bi-weekly mortgage payments
Calcul de prêt d'hypothèque canadien et français / Canadian mortgage and loan calculator in French
1 Stop Mortgage Calculator
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Javascript Mortgage Calculators |
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Online JavaScript mortgage loan calculator for webmasters Also new: Need to know the monthly
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Monthly Payments Results
This combined monthly mortgage calculator and bi-weekly mortgage calculator gives you an estimate of what your monthly mortgage payments or bi-weekly mortgage payments could be when you contract a loan.
This is only an estimate of your possible monthly payments or bi-weekly payments. The actual lending institution determines your exact monthy mortgage payments or bi-weekly mortgage payments.
Please note that this monthly mortgage calculator and bi-weekly mortgage calculator uses javascript to do its monthly mortgage payments or bi-weekly mortgage payments calculations, your actual monthly mortgage payments or bi-weekly mortgage payments might be slightly different than the results shown here.
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Mortage calculator definitionsPrincipal loan balance or mortgage amount The total dollar amount the mortgage calculator will use for the mortgage calculations. This is how much you presently owe or wish to borrow. Interest rate The interest rate (in percentage) is what the mortgage calculator will use for the mortgage calculations. Amortization in years The number of years over which you would repay this mortgage loan if you made your normal monthly payments. The most common terms for mortgages are 15 years and 30 years (25 years for Canadian mortgages). The mortgage calculator will use this number in it’s mortgage calculations.
How does this JavaScript mortgage calculator work?It goes without saying that this calculator uses JavaScript to do it’s calculations. (JavaScript is a browser programming language created by Netscape.) JavaScript does not have any financial functions integrated into it. However, we can multiply, divide, add, subtract and use exponentiation – with the Math.pow() method. Knowing this, it’s possible to program a calculator function in JavaScript that will match the standard mortgage calculator formula (or the normal mortgage calculator code) used by the lending institutions. In fact, this type of script is simple to program. It's just a matter of using the javascript Math.pow(x,y) function when programming the script for the mortgage formula we want to code. General javascript mortgage payment formula: For more information in what's involved in a javascript mortgage calculator script and to see what the code looks like, Click here: mortgage calculator code and sample. - A small javascript script example with a mortgage formula is also shown and some source code for a mortgage calculator.
Canadian mortgage formulaDid you know that the Canadians don't use the same compound system as the rest of the world? In the USA, and every where else, the rates are compounded monthly. In other words, when you repay your loan, your rates are compounded at every month, if you repay bi-weekly, the rates will again be compounded monthly. Well... In Canada, it's different. The Canadians mortgages are compounded every six months. Even when someone pays monthly, the interest rate is calculated on a semi-annual base. Check out your payments with this easy to use Canadian mortgage calculator. Click here for more information about the Canadian mortgage formula and the javascript code needed to do the mortgage calculations. You can also find more information about the US mortgage formula on this mortgage-calculator-code page.
If you want to use an online mortgage calculator, keep these caveats in mind:The majority of the online mortgage calculators populating the web, javascript, java or php driven, rarely reveal their behind-the-scenes assumptions. Very few mortgage payments calculators are accompanied by any explanation of how they work, what javascript mortgage calculator formula or code was used or what assumptions are used (this mortgage calculator does -- see "How does this javascript mortgage calculator work?"). As a consumer, you have to understand that an online mortgage calculator only gives the bare bones results (and those results are rounded figures). When you do take a mortgage loan, even with the lowest mortgage ones, the monthly payments or bi-weekly mortgage payments usually include a mortgage insurance (a mortgage insurance is usually required by the lending institution). Some home loans also include an impound account for property taxes and casualty insurance. A mortgage calculator can’t predict the mortgage payments on an hybrid or adjustable-rate mortgage (ARM). Beyond the initial fixed interest rate, no one can! More information on an Adjustable rate mortgage (ARM) More info on the JavaScript mortgage calculator code, formula and script Accelerated weekly payments and / or accelerated bi-weekly
mortgage payments explanations Small site map:
Are your website visitors looking to calculate their mortgage payments? Install a javascript mortgage calculator on your website!
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