**Introduction**

Calculating your house loan monthly payment can be a daunting task, but with the right formula and a user-friendly calculator, the process becomes much simpler. In this article, we will provide you with a handy HTML and JS code for a House Loan Monthly Payment Calculator, along with a step-by-step guide on how to use it effectively.

**How to Use**

To use the calculator, enter the loan amount, interest rate, and loan term in years. Click the “Calculate” button, and the calculator will provide you with the accurate monthly payment for your house loan.

**Formula**

The formula used in the calculator is the standard formula for calculating the monthly mortgage payment:

$M=P×((+r)n−r(+r)n )$

Where:

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

**Example**

Let’s consider an example:

- Loan amount ($P$): $200,000
- Annual interest rate: 4%
- Loan term: 30 years

Using the formula mentioned above, the calculated monthly payment ($M$) would be approximately $954.83.

**FAQs**

**Q: How accurate is the calculator’s result?**

**A:** The calculator uses the precise formula for mortgage payment calculation, ensuring high accuracy.

**Q: Can I use this calculator for other types of loans?**

**A:** While specifically designed for house loans, you can adapt the calculator for other loans by adjusting inputs.

**Q: What if I want to calculate bi-weekly payments?**

**A:** The calculator is designed for monthly payments. For bi-weekly calculations, modify the formula accordingly.

**Q: Are the results inclusive of taxes and insurance?**

**A:** No, the calculator provides the principal and interest only. Taxes and insurance are not included.

**Conclusion**

With the provided HTML and JS code, you can easily integrate a House Loan Monthly Payment Calculator into your website. Understanding how to use the calculator and the underlying formula empowers you to make informed decisions about your house loan.