Financial Simulators

This application provides two powerful financial tools: a Mortgage Simulator and a Rent vs Buy Comparison simulator. These tools help users make informed decisions about their housing options.

Mortgage Simulator

The Mortgage Simulator calculates and visualizes mortgage payments over time using the Equated monthly installment method.

Key features include:

• 🧮 Calculate monthly mortgage payments
• 📊 Visualize the breakdown of principal and interest over time
• 💰 Adjust for additional payments and see their impact
• 🔄 Toggle between reducing loan term or monthly payments to check for costs differences
• 📈 Interactive charts and detailed payment schedules

Rent vs Buy vs Mortgage Simulator

This tool helps users compare the financial implications of renting versus buying versus getting a mortgage for a property over time.

Key features include:

• 💹 Compare net worth projections for renting, buying with cash, and buying with a mortgage
• 🏠 Adjust property value, appreciation rates, and rental costs
• 💼 Factor in investment returns for saved capital
• 🔢 Customize down payment percentages and mortgage terms
• 📊 Visualize long-term financial outcomes with interactive charts

⚠️ Disclaimer

🚨 Important: Please Read 🚨

These Financial Calculators are provided for informational and educational purposes only. Although I tried to make them as accurate as possible, there is no guarantee that the information and calculations are error-free or suitable for your specific circumstances.

• 🏦 These tools are not a replacement for professional financial advice.
• 📊 The calculations may not account for all factors that a bank or financial institution would consider.
• 🐛 Despite our best efforts, the tools may contain bugs or inaccuracies.
• 📈 Mortgage rates, rental markets, and investment returns can vary widely and change frequently.

Always consult with a qualified financial advisor, mortgage professional, or your bank before making any financial decisions or commitments related to housing or investments.

By using these tools, you acknowledge that you understand and accept these limitations and risks.

Try It Out

You can use the live version of these Financial Calculators here.

Development Setup

To set up this project for development on your local machine, follow these steps:

1. Clone the repository

   git clone https://github.com/alainrk/finance.git
   cd finance
   

2. Install dependencies

   npm install
   

3. Start the development server

   npm run dev
   

   This will run the app in development mode. Open the local URL showed to view it in your browser.

Contributing

Contributions to this project are welcome! Please feel free to submit pull requests, create issues or spread the word.

License

This project is open source and available under the MIT License.