import java.math.*;//*loan calculator
import java.text.*;//*formats numbers
public class MultipleMortgageLoans {
public static void main(String args[]) // ** added
{

// declare class variable array
double mortgageCalculator1[] = new double[6];
double mortgageCalculator2[] = new double[6];
double mortgageCalculator3[] = new double[6];
double payment = loan/discountfactor;
double discountfactor = discountfactor;

//construct the array
//mortgageCalculator1 = new double[6];
//mortgageCalculator2 = new double[6];
//mortgageCalculator3 = new double[6];

double loan = 200000; // ** add ;
double term1 =360;//The 30 year mortgage
double interestRate1 = 0.0575; //*5.75% 5.75/100interest rate 30year mortgage
double monthlyRate1 = (interestRate1/12); // ** ; added
double term2 = 84;//The 7year mortgage loan
double interestRate2 = 0.0535;//*5.35 5.35/100 interest rate 7 year mortgage
double monthlyRate2 = (interestRate2/12);//*rate calculation on 7 year mortgage loan
double term3 = 180; //The 15 year mortgage
double interestRate3 = 0.0550;//*5.5 5.5/100 interest rate on 15 year mortgage
double monthlyRate3 = (interestRate3/12);//* monthlyRate for 15 year mortgage
//Discount factor calculations for the three loans
double discountFactor1 = (Math.pow((1 + monthlyRate1),term1)-1/(monthlyRate1 * Math.pow((1 + monthlyRate1),term1)));
double discountFactor2 = (Math.pow((1 + monthlyRate2),term2)-1/(monthlyRate2 * Math.pow((1 + monthlyRate2),term2)));
double discountFactor3 = (Math.pow((1 + monthlyRate3),term3)-1)/(monthlyRate3 * Math.pow((1 + monthlyRate3),term3));
double payment1 = loan/discountFactor1; //*Rate Calculation for 30 year mortgage
double payment2 = loan/discountFactor2; //*Rate Calculation for 7 year mortgage
double payment3 = loan/discountFactor3; //*Rate Calculation for 15 year mortgage

//loop While not done
while(loan > 0)
{
java.text.DecimalFormat dfm = new java.text.DecimalFormat(",###.00");
System.out.println("Your monthly payment is \$" + dfm.format(payment));
// loop while done
if(loan>0)
{
payment1 = loan/discountFactor1;//*Rate Calculation
payment2 = loan/discountFactor2;//*Rate Calculation
payment3 = loan/discountFactor3;//*Rate Calculation
}
else
payment1 = payment/discountFactor1;//Rate Calculation
payment2 = payment/discountFactor2;//Rate Calculation
payment3 = payment/discountFactor3;//Rate Calculation
}
//Output
}
}

Are you reading the errors from the compiler? You do not declare and initialize two variables!

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