**Introduction**

Calculating a 30-year fixed-rate mortgage is a crucial step for anyone considering a home loan. To simplify this process, we’ll provide an efficient HTML and JS calculator that adheres to the most accurate formula. Follow the instructions below to utilize the calculator effectively.

**How to Use**

- Input the loan amount in the designated field.
- Enter the annual interest rate.
- Specify the loan term (30 years for a fixed-rate mortgage).
- Click the “Calculate” button to obtain the monthly mortgage payment.

**Formula**

The formula for calculating the monthly payment for a fixed-rate mortgage is as follows:

$M=P×((+r)n−r(+r)n )$

Where:

- $M$ is the monthly mortgage payment.
- $P$ is the loan amount.
- $r$ is the monthly interest rate (annual rate divided by 12 and expressed as a decimal).
- $n$ is the total number of payments (loan term in years multiplied by 12).

**Example**

Suppose you are seeking a $250,000 mortgage with a 4% annual interest rate for 30 years. Using the formula:

$M=250,000×((+)30×12−×(+)30×12 )$

The resulting monthly payment would be approximately $1,193.54.

**FAQs**

**Q1: Can this calculator be used for other loan terms?**

A1: No, this calculator is specifically designed for 30-year fixed-rate mortgages.

**Q2: Is the formula provided accurate for all scenarios?**

A2: Yes, the formula is universally applicable for fixed-rate mortgage calculations.

**Q3: Can I use this calculator for commercial loans?**

A3: While the formula is accurate, this calculator is tailored for residential 30-year fixed-rate mortgages.

**Conclusion**

This HTML and JS calculator simplifies the often complex task of computing monthly payments for a 30-year fixed-rate mortgage. By adhering to the accurate formula and following the instructions, users can quickly obtain the information they need.