https://github.com/cfpb/overall-loan-cost

A node module to calculate the overall cost of a loan.
https://github.com/cfpb/overall-loan-cost

Last synced: about 1 month ago
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A node module to calculate the overall cost of a loan.

• Host: GitHub
• URL: https://github.com/cfpb/overall-loan-cost
• Owner: cfpb
• License: cc0-1.0
• Created: 2014-07-28T21:19:36.000Z (over 10 years ago)
• Default Branch: master
• Last Pushed: 2014-09-02T17:21:04.000Z (over 10 years ago)
• Last Synced: 2024-04-25T11:02:39.732Z (9 months ago)
• Language: JavaScript
• Size: 221 KB
• Stars: 3
• Watchers: 18
• Forks: 4
• Open Issues: 0
• Metadata Files:
  • Readme: README.md
  • Contributing: CONTRIBUTING.md
  • License: COPYING.txt

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README

        
# overall-loan-cost [![Build Status](https://secure.travis-ci.org/cfpb/overall-loan-cost.png?branch=master)](http://travis-ci.org/cfpb/overall-loan-cost)

[![browser support](https://ci.testling.com/cfpb/overall-loan-cost.png)

](https://ci.testling.com/cfpb/overall-loan-cost)

> Calculate the overall cost of a loan.

## Installation

First install [node.js](http://nodejs.org/). Then:

```sh

npm install overall-loan-cost --save

```

## Usage

## Basic usage

Require the module and pass it an object of loan values (amount borrowed, rate, and total loan term in months):

```javascript

var cost = require('overall-loan-cost');

cost({

  amountBorrowed: 300000,

  rate: 4.25,

  totalTerm: 360,

});

```

This will return the total cost of the loan, total equity of the loan, and the overall cost of the loan (cost + equity):

```javascript

{

  totalCost: 231295.08,

  totalEquity: 300000,

  overallCost: 531295.08

}

```

## Additional values

You can also include the down payment and closing costs of the loan.

```javascript

cost({

  amountBorrowed: 300000,

  rate: 4.25,

  totalTerm: 360,

  downPayment: 20000,

  closingCosts: 30000

});

```

Will return:

```javascript

{

  totalCost: 261295.08,

  totalEquity: 320000,

  overallCost: 581295.08

}

```

If you're interested in seeing the costs of a loan for a period that is shorter than the total life of the loan, you can pass the `amortizeTerm` value in months:

```javascript

cost({

  amountBorrowed: 255000,

  rate: 4.5,

  totalTerm: 360,

  amortizeTerm: 84,

  downPayment: 45000,

  closingCosts: 6000

})

```

This will return the total cost, total equity, and overall cost after 7 years:

```javascript

{

  totalCost: 81449.02,

  totalEquity: 78082.98,

  overallCost: 159531.99

}

```

## Contributing

Please read the [Contributing guidelines](CONTRIBUTING.md).

### Running Tests

We are using [nodeunit](https://github.com/caolan/nodeunit) to test. To run tests, first install nodeunit and any dependencies via npm:

```

npm install

```

Run tests with:

```

npm test

```