BDS Software

Yet Another Mortgage Calculator


The difference here is that this calculator is run completely on the client machine using JavaScript, and the source code is available for you to inspect: just right-click and then click on View Page Source [Firefox 59.02 on Windows 7 Pro (64-bit) SP1]. Do something similar with other browsers or operating systems.

Enter values for Principal, Interest, Years, Points, Fees, and Precision. (Generally, you should leave Precision = 0.0001 unless you have a special reason for changing it.) Then click the "CALCULATE" button and the calculated values for Proceeds, Payment, and APR will be displayed.

If you enter something that begins with a non-numeric character, the entry will be rejected.

If you enter something that begins with a numeric character, but includes a non-numeric character somewhere else in the entry, the entry will be parsed up to the first non-numeric character (This will probably not give you the results you hoped for). Do not use commas, e.g. enter 1150000.00 , not 1,150,000.00 . Do not enter more than one decimal point in any given entry.

Note: This script runs, as is, in Chrome, Firefox, Opera, and SlimBrowser. Internet Explorer pops up a note at the bottom of the page saying, "Internet Explorer restricted this webpage from running scripts or ActiveX controls". You must "allow" the blocked content before this script will run. If you're using some other browser, experiment on your own, "Your milage may vary".


  Principal = Loan principal amount, dollars
                    = Mortgage "Face" Amount

  Interest = Loan interest rate, percent

  Years = Loan repayment period, years

  Points = Total loan points, percent

  Fees = Total loan fees, dollars

  Precision = Precision for APR, percent
                        Precision defaults to 0.0001 if set to
                           precision <= 0 or
                           precision >= 1
   
                  
   

  Proceeds = Loan proceeds, dollars
                  = actual amount to be received

  Payment = Monthly payment, dollars

  APR = Annual Percentage Rate


Disclaimer: BDS Software does not warrant or guarantee this Mortgage Calculator's results. It is a demonstrator only. Although it may be useful as a helpful guide for your loan transactions, you should consult your own financial institution for exact figures.

Note: I originally wrote this in 1999. The internal logic has not changed, except for the correction of one bug. I have also massaged the style sheet a bit to make the presentation fit in better with the current re-design of the BDS Software website.