Mortgage calculator mobile app

253 developers have joined this project.

What you will practice

You'll practice how to use DOM manipulation. Additionally, you'll learn how to update the UI using JavaScript and apply your skills to real-world products (i.e. online banking services).

Introduction

Taking out loans and calculating monthly EMI can be confusing and stressful. However, with the help of a mortgage calculator, anyone can easily plan their mortgages out. You will build a mortgage calculator in this project!

Requirements

Set up a React App(Vanilla JS or your favorite framework works too)
Users can set purchase prices
Users can set down payment
Users can set repayment time
Users can set interest rate
Show users loan amount (purchase price - down payment)
Show users the estimated amount they'll pay on a monthly basis

Here is an example of the UI for this project but you're welcome to make any changes you'd like! 🙂
Mortage_Calculator_(mobile).png

Suggested Implementation

This project can be implemented using any of the following technologies:

For cross-platform apps, React Native/Flutter is recommended
For iOS, Swift is recommended
For Android, Java or Kotlin is recommended

References

React Native docs
Flutter Documentation
Kotlin Documentation
Swift Documentation
Slider React Native Docs
Slider Flutter Documentation
Formula for mortgage payments: M = P[r(1+r)^n/((1+r)^n)-1)]
- M = the total monthly mortgage payment
- P = the principal loan amount(Purchase Price - Down Payment)
- r = your monthly interest rate
- n = number of payments over the loan’s lifetime.

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Suggested languages and frameworks

JavaKotlinReact Native SwiftFlutter

Difficulty

medium

Contributed by

Rishi Purwar

Full-stack Web Developer

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