//DO NOT REMOVE THIS COPYWRITE INFO!
//Mortgage Refinancing Calculator
//By Daniel C. Peterson
//Web Winder Website Services, 1997-2003 All Rights Reserved.
//Distribution, editing or reselling of this script is strictyly prohibited
//without expressed written permission from Daniel C. Peterson.
//For commercial grade (professional) versions of this and many other
//calculators, visit http://www.webwinder.com.
function computeForm(form) {
var pmt1 = form.payment.value;
var prin1 = form.principal.value;
var intPort1 = 0;
var prinPort1 = 0;
var accumInt1 = 0;
var accumPrin1 = 0;
var i1 = form.intRate.value;
if (i1 > 1.0) {
i1 = i1 / 100.0;
form.intRate.value = i1;
}
var i1 = i1 / 12;
var i2 = form.intRate2.value;
if (i2 > 1.0) {
i2 = i2 / 100.0;
form.intRate2.value = i2;
}
var i2 = i2 / 12;
var count1 = 0;
while(prin1 > 0) {
intPort1 = prin1 * i1;
prinPort1 = pmt1 - intPort1;
prin1 = prin1 - prinPort1;
accumPrin1 = accumPrin1 + prinPort1;
accumInt1 = accumInt1 + intPort1;
count1 = count1 + 1;
if(count1 > 600) {break; } else {continue; }
}
form.origInt.value = "$" + parseInt(accumInt1,10);
var pow = 1;
for (var j = 0; j < form.nper2.value *12; j++)
pow = pow * (1 + i2);
var fpayment2 = (form.principal.value * pow * i2) / (pow - 1);
form.payment2.value = "$" + parseInt(fpayment2,10) + "." + parseInt(fpayment2 % 1 * 100,10);
var fmoSave = form.payment.value - fpayment2;
form.moSave.value = "$" + parseInt(fmoSave,10) + "." + parseInt(fmoSave % 1 *100,10);
var ftotInt2 = (fpayment2 * form.nper2.value *12)
- form.principal.value;
form.totInt2.value = "$" + parseInt(ftotInt2,10);
var fintSave = accumInt1 - ftotInt2;
form.intSave.value = "$" + parseInt(fintSave,10);
form.closeMo.value = parseInt(form.closingCost.value / fmoSave,10);
var fnetSave = fintSave - form.closingCost.value;
form.netSave.value = "$" + parseInt(fnetSave,10);
form.summary.value = "If you refinance your current " + parseInt(form.intRate.value *100,10) + "." + parseInt(form.intRate.value *100 % 1 *100,10) + "% auto loan to a " + parseInt(form.intRate2.value *100,10) + "." + parseInt(form.intRate2.value *100 % 1 *100,10) + "% mortgage, your monthly payment will drop by " + form.moSave.value + " and you will save " + form.intSave.value + " in interest charges over the life of your auto loan. However, in order for this refinancing to yield any savings at all you will need to stay in your current home for at least " + form.closeMo.value + " months. That's how long it will take for your monthly payment savings to offset the closing costs attributable to refinancing.";
}
function clearForm(form)
{
form.principal.value = "";
form.payment.value = "";
form.intRate.value = "";
form.intRate2.value = "";
form.nper2.value = "";
form.closingCost.value = "";
form.payment2.value = "";
form.moSave.value = "";
form.closeMo.value = "";
form.intSave.value = "";
form.origInt.value = "";
form.netSave.value = "";
form.totInt2.value = "";
form.summary.value = "";
}
