Real Estate Calculator API

This is a Flask-based web API for real estate calculations. It provides endpoints for calculating mortgage payments and performing a month-by-month comparison of costs.

Project Structure

. ├── .gitignore
├── app.py
├── calculations
│ ├── init.py
│ ├── comparison.py
│ └── mortgage_calculations.py
├── main.py
└── realEstimate.py

Setup

Clone the repository:

git clone <repository-url>

Navigate to the project directory: cd <project-directory>
Create a virtual environment: python3 -m venv venv
Activate the virtual environment: On Windows: venv\Scripts\activate

On Unix or MacOS: source venv/bin/activate

Install the required packages: pip install -r requirements.txt

Running the Application

To run the application, use the following command:

python app.py

This will start a development server on http://localhost:5000.

API Endpoints

Calculate Mortgage Payments URL: /calculate_mortgage_payments

Method: POST

Data Params:

{
    "property_price": <property_price>,
    "down_payment_percentage": <down_payment_percentage>,
    "interest_rate_first_period": <interest_rate_first_period>,
    "interest_rate_subsequent_min": <interest_rate_subsequent_min>,
    "interest_rate_subsequent_max": <interest_rate_subsequent_max>,
    "mortgage_term_years": <mortgage_term_years>,
    "fixed_interest_duration_years": <fixed_interest_duration_years>
}

Month by Month Comparison URL: /month_by_month_comparison

Method: POST

Data Params:

{
    "monthly_payment_first_period": <monthly_payment_first_period>,
    "monthly_payment_subsequent_min": <monthly_payment_subsequent_min>,
    "monthly_payment_subsequent_max": <monthly_payment_subsequent_max>,
    "monthly_rent": <monthly_rent>,
    "mortgage_term_years": <mortgage_term_years>,
    "loan_amount": <loan_amount>,
    "interest_rate_first_period": <interest_rate_first_period>,
    "interest_rate_subsequent_min": <interest_rate_subsequent_min>,
    "interest_rate_subsequent_max": <interest_rate_subsequent_max>,
    "fixed_interest_duration_years": <fixed_interest_duration_years>
}

Mortgage Calculation Logic

This API uses the loan amortization formula to calculate monthly mortgage payments. The formula is as follows:

M = P[r(1+r)^n]/[(1+r)^n – 1]

Where:

M is your monthly payment.
P is the principal loan amount.
r is your monthly interest rate, calculated by dividing your annual interest rate by 12.
n is your number of payments (the number of months you will be paying the loan).