PHP Classes

PHP Mortgage Calculator: Calculate monthly payments for mortgage

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Version License PHP version Categories
mortgage 1.0.0GNU General Publi...5PHP 5, Finances
Description 

Author

Adeola Odusola

This class can calculate monthly payments for mortgage.

It can take as parameters the loan amount, the fixed interest rate amount and the number of years to pay.

The class returns an array that has the values of amortization to pay the mortgage loan.

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Example

<?php
/**
 * @author Adeola Odusola
 *
 * The following program calculates monthly mortgage for fixed interest rate.
 * The user inputs the original loan amount, interest rate, and number of years.
 */
?>

<!DOCTYPE html>
<html>
    <head>
        <style>
             table.my_table {
                font-family: verdana,arial,sans-serif;
                color:#333333;
                border-width: 1px;
                border-color: #999999;
                border-collapse: collapse;
            }
            table.my_table th {
                font-size:10px;
                background:#b5cfd2;
                border-width: 1px;
                padding: 3px;
                border-style: solid;
                border-color: #999999;
            }
            table.my_table tr{
                 -webkit-print-color-adjust: exact;
            }
            table.my_table tr:nth-child(odd) {
                background: #f2f2f2;
            }
            table.my_table tr:hover {
                background-color: #ffff00;
            }
            table.my_table td {
                font-size:10px;
                border-width: 1px;
                padding: 2px;
                border-style: solid;
                border-color: #999999;
            }
        </style>
        <title>
            Mortgage calculator and amortization table generator
        </title>
    </head>
    <body>
        <form method="post" action="">
            <table>
                <tr>
                    <td>
                        <label for="loan">Loan: $</label>
                    </td>
                    <td>
                        <input type="text" name="loan" value="" pattern="\d+((\.)\d{2})?" required>
                    </td>
                </tr>
                <tr>
                    <td>
                        <label for="rate">Rate: </label>
                    </td>
                    <td>
                        <input type="text" name="rate" value="" pattern="\d+((\.)\d{1,})?" required>
                    </td>
                </tr>
                <tr>
                    <td>
                        <label for="years">Years: </label>
                    </td>
                    <td>
                        <select name="years" required>
                            <option value="">select...</option>
                            <option value="5">5</option>
                            <option value="10">10</option>
                            <option value="15">15</option>
                            <option value="20">20</option>
                            <option value="25">25</option>
                            <option value="30">30</option>
                            <option value="40">40</option>
                            <option value="50">50</option>
                        </select>
                    </td>
                </tr>
                <tr>
                    <td></td>
                    <td>
                       <input type="submit" name="compute" value="calculate mortgage">
                    </td>
                </tr>
            </table>
        </form>


<?php
if (isset($_POST['compute'])){
    require_once 'Mortgage.php';
    //input values
    $loanAmount=$_POST['loan'];
    $rawRate=$_POST['rate'];
    $numberOfYears=$_POST['years'];
   
    // get results
    $mort=new Mortgage($loanAmount, $rawRate, $numberOfYears);
    $results=$mort->getResults();
    $summary=$results["summary"];
    $amortization=$results["amortization"];
   
    // display mortgage summary
    echo "<div>Mortgage Summary</div>";
    echo "<table class=\"my_table\">";
    echo "<tr><td>Home Value: </td><td>$".$summary["homeValue"]."</td></tr>";
    echo "<tr><td>Monthly Mortgage: </td><td>$".$summary["monthlyMortgage"]."</td></tr>";
    echo "<tr><td>Total Payment: </td><td>$".$summary["totalPayment"]."</td></tr>";
    echo "<tr><td>Total Interest: </td><td>$".$summary["totalInterest"]."</td></tr>";
    echo "</table><br>";
       
    // display amortization table
    echo "<div>Amortization Schedule</div>";
    echo "<table class=\"my_table\">";
    echo "<tr><th>Month #</th><th>Mortgage</th><th>Principal</th><th>Interest</th><th>Balance</th></tr>";
    foreach ($amortization as $row){
        echo "<tr>";
        echo "<td>".$row["monthNumber"]."</td>";
        echo "<td>".$row["mortgage"]."</td>";
        echo "<td>".$row["principal"]."</td>";
        echo "<td>".$row["interest"]."</td>";
        echo "<td>".$row["balance"]."</td>";
        echo "</tr>";
        if ( $row["monthNumber"]%12==0 && $row["monthNumber"]!=($numberOfYears*12) ){
            // redisplay header
            echo "<tr><th>Month #</th><th>Mortgage</th><th>Principal</th><th>Interest</th><th>Balance</th></tr>";
        }
    }
    echo "</table>";
}
?>
       
    </body>
</html>

Details

The following program calculates monthly mortgage for fixed interest rate.
The user inputs the original loan amount, interest rate, and number of years.
Subsequently, the mortgage summary and amortization table are displayed.

  Files folder image Files (3)  
File Role Description
Accessible without login Plain text file example.php Example example
Accessible without login Plain text file Mortgage.php Class Mortgage and Amortization generator
Accessible without login Plain text file readme.md Doc. documentation

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