import { useState } from 'react' import { Input } from "/components/ui/input" import { Label } from "/components/ui/label" import { Card, CardContent, CardHeader, CardTitle } from "/components/ui/card" import { Button } from "/components/ui/button" import { Select, SelectContent, SelectItem, SelectTrigger, SelectValue, } from "@/components/ui/select" export default function NACAMortgageCalculator() { const [purchasePrice, setPurchasePrice] = useState(0) const [rehabBudget, setRehabBudget] = useState(0) const [yearlyTaxes, setYearlyTaxes] = useState(0) const [insurance, setInsurance] = useState(0) const [monthlyHOA, setMonthlyHOA] = useState(0) const [monthlyCondoFees, setMonthlyCondoFees] = useState(0) const [sellerSubsidy, setSellerSubsidy] = useState(0) const [buyerBuydown, setBuyerBuydown] = useState(0) const [interestRate, setInterestRate] = useState(0) // Default interest rate set to 0 const [loanTerm, setLoanTerm] = useState('30') const totalLoanAmount = purchasePrice + rehabBudget const maxSellerSubsidy = totalLoanAmount * 0.10 const maxBuyerBuydown = totalLoanAmount * 0.05 const handleSellerSubsidyChange = (value: number) => { if (value > maxSellerSubsidy) { setSellerSubsidy(maxSellerSubsidy) } else { setSellerSubsidy(value) } } const handleBuyerBuydownChange = (value: number) => { if (value > maxBuyerBuydown) { setBuyerBuydown(maxBuyerBuydown) } else { setBuyerBuydown(value) } } const adjustedInterestRate = interestRate const finalInterestRate = loanTerm === '30' ? adjustedInterestRate : Math.max(adjustedInterestRate - 0.5, 0.125) const monthlyEscrow = (yearlyTaxes + insurance) / 12 + monthlyHOA + monthlyCondoFees const totalBuydownAmount = sellerSubsidy + buyerBuydown const discountPoints = (totalBuydownAmount / totalLoanAmount) * 100 const calculatedNewInterestRate = finalInterestRate - (discountPoints * 0.25) const newInterestRate = Math.max(calculatedNewInterestRate, 0.125) // Function to calculate monthly principal and interest payment const calculateMonthlyPayment = (principal: number, rate: number, term: number) => { const monthlyRate = rate / 100 / 12 const numberOfPayments = term * 12 return (principal * monthlyRate) / (1 - Math.pow(1 + monthlyRate, -numberOfPayments)) } const monthlyPrincipalAndInterest = calculateMonthlyPayment(totalLoanAmount, newInterestRate, parseInt(loanTerm)) const totalPITI = monthlyPrincipalAndInterest + monthlyEscrow // Helper function to format numbers with commas const formatNumberWithCommas = (num: number) => { return num.toLocaleString('en-US') } return ( NACA Mortgage Interest Rate Buydown Calculator

LOAN AMOUNT

Current Interest Rate (%) setInterestRate(parseFloat(e.target.value))} placeholder="Enter interest rate" />

Select Type of Loan

Purchase Price ($) setPurchasePrice(parseFloat(e.target.value))} placeholder="Enter purchase price" />

Rehab Budget ($) setRehabBudget(parseFloat(e.target.value))} placeholder="Enter rehab budget" />

MONTHLY ESCROWS

Enter Property Taxes (Yearly) setYearlyTaxes(parseFloat(e.target.value))} placeholder="Enter yearly property taxes" />

Homeowners Insurance (Yearly) setInsurance(parseFloat(e.target.value))} placeholder="Enter yearly insurance" />

Homeowners Association Dues (Monthly) setMonthlyHOA(parseFloat(e.target.value))} placeholder="Enter monthly HOA dues" />

Condo Association Dues (Monthly) setMonthlyCondoFees(parseFloat(e.target.value))} placeholder="Enter monthly condo fees" />

Total Monthly Escrows ($)

BUY DOWN CALCULATION

Seller Subsidy ($) handleSellerSubsidyChange(parseFloat(e.target.value))} placeholder="Enter seller subsidy" className={sellerSubsidy > maxSellerSubsidy ? 'border-red-500' : ''} />

Buyer Buydown ($) handleBuyerBuydownChange(parseFloat(e.target.value))} placeholder="Enter buyer buydown" className={buyerBuydown > maxBuyerBuydown ? 'border-red-500' : ''} />

Total Buydown Amount ($)

RESULTS

Monthly Principal & Interest ($)

${formatNumberWithCommas(monthlyPrincipalAndInterest.toFixed(2))}

Discount Points (%)

{discountPoints.toFixed(2)}%

Adjusted Interest Rate (%)

{adjustedInterestRate.toFixed(3)}%

New Interest Rate (%)

{newInterestRate.toFixed(3)}%

Total PITI + Escrows ($)

${formatNumberWithCommas(totalPITI.toFixed(2))}

Disclaimer: This calculator is for informational purposes only. Please verify the interest rate amount with your NACA counselor. Your interest rate cannot be locked until the NACA office has received your purchase agreement, a copy of your earnest money check, and your signed intent to proceed.

RESOURCES

) }