15 Year Home Loan Calculator



Calculating the repayment amount for a 15-year home loan can be a crucial step in financial planning. To simplify this process, a user-friendly calculator can be a handy tool. In this article, we will provide you with a simple and effective HTML and JS code for a 15-Year Home Loan Calculator.

How to Use

  1. Enter the loan amount in the designated input field.
  2. Input the annual interest rate as a percentage.
  3. Specify the loan term in years.
  4. Click the “Calculate” button to get the monthly repayment amount.


The formula to calculate the monthly payment for a fixed-rate mortgage is given by:


  • is the monthly payment.
  • is the principal loan amount.
  • is the monthly interest rate (annual rate divided by 12 and converted to a decimal).
  • is the total number of payments (loan term multiplied by 12).


Suppose you have a home loan of $200,000, an annual interest rate of 4%, and a 15-year term.

Plugging these values into the formula will give you the monthly payment.


Q: Can I leave the input fields blank?

A: No, all input fields must be filled to calculate the monthly payment accurately.

Q: How is the interest rate calculated monthly?

A: The annual interest rate is divided by 12 and converted to a decimal to get the monthly rate.


Using a 15-Year Home Loan Calculator can greatly assist in planning your finances and understanding the monthly repayment commitment. The provided HTML and JS code offer a simple and efficient way to calculate the monthly payment for your home loan.

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