Mortgage Calc Pro
| Category | Price | Seller | Device |
|---|---|---|---|
| Finance | $1.99 | Eamonn and Ian llc | iPhone, iPad, iPod |
An iTunes "New and Noteworthy" and a "What's Hot" Finance application.
- 40, 30, 20, 15, 10 year fixed mortgages;
- ARM and ARM Interest Only mortgages.
- All other terms from 360 months down to 1 month available.
- Compare 2 mortgages side by side
- Points vs. interest rate comparison - find out whether it is worthwhile to pay additional points to lower your interest rate.
- Refinance calculator - find out how long it takes for refinancing to be worthwhile.
- Includes closing costs and amount due at closing;
- Total monthly costs on the house - include insurance, taxes and other fees.
- Tax Benefits from purchasing - see the before and after tax cost of owning the house. Also, compare buying vs. renting.
- Amortization tables.
- Other payment tables.
- Expected future ARM rates;
- Private Mortgage Insurance;
- Extensive glossary of key terms, tied back to the various screens.
Email results.
Calculate mortgage payments for a loan, or use other screens to calculate total cost of buying a home, plus monthly costs of ownership.
Reviews
Comprehensive and educational mortgage app
thinkmega
I believe this is an upgraded version of a previous app from the same developer. It is a very complete home mortgage calculator, it supports all currently popular loan types including 15/30 year FRM (fixed rate mortgage), 1/1, 3/1, 5/1, 7/1, 10/1 ARM (adjustable rate mortgage) and even IOs (interest only). The main calculator screen is clean and easy to use. Additional tabs accept more advanced parameters such as house price, property tax %, income tax %, insurance, closing cost, home price appreciation rate, ARM initial/periodic/life cap, etc. It even projects future ARM mortgage rates based on the interest rate curve determined by daily treasury bond trading activities. Various time tables list out future payments, amortization schedule, estimated tax savings, and equity in house. The Buy vs. Rent table is quite unique, it tells me the monthly rental equivalent after considering tax savings each year. The Glossary is educational and easy to read. I work in mortgage industry, friends often consult me when applying for a loan, most of what I explain to them can be found in this app.
Great tool for homebuyers
rHubert
Easy to use and comprehensive tool for anyone buying a home or refinancing. It goes way beyond a simple payment calculator, including numerous additional educational and analysis features.
Bad functionality
Dfresh2
Nifty interface, but all data is manual... No way to assume downpayment as a percentage of purchase price... No way to compare 15yr to 30yr mortgage options... It would at the very least be helpful to automatically check today's mortgage rates and automatically include them. This app doesn't make my life easier because I still have to check my assumptions independently and keep a calculator on the side for common, simple functions like 20% down. Taxes can't be entered as percentage... Boo.
A must for ANY home buyer
Pocohantus
This app will help you understand and make the most informed mortgage choice, and understand the implication of each choice.
Awesome
Christiank1989
Absolutely wonderful comprehensive yet simple to use! Any mortgage specialist or financial advisor must have
Basic
ATLMTG
App is way to basic to actually be useful. You cannot enter enough information to make the denarius accurate enough to actually send to a client.... Nice interface but needs lots of work
Elegant Simplicity
rain or shine 2014
Easily change loan duration, interest rate to get monthly payment. It is not complicated and does not answer "what can I afford? question. But it serves its narrow purpose well (and has nice monthly chart on principal / interest payments). Worth $1.99? Absolutely.
Not worth the money
ssolgot
Some free realty search apps have a better calculator, no options here, not "pro" in my opinion Don't buy it!
