Mortgage Calculator™
| Category | Price | Seller | Device |
|---|---|---|---|
| Finance | $1.99 | MH Riley Ltd | iPhone, iPad, iPod |
*** Featured in the Sunday Times App List 2012 ***
*** Featured as 'What's Hot' by Apple ***
'Mortgage Calculator' has one aim - To SAVE YOU MONEY on your mortgage!
If you're buying a house, looking to re-finance, or simply want to make the most of your existing mortgage, then this is the perfect app for you.
Try out various 'What-If' scenarios and quickly see how extra payments can save you a whole lot of time and money. You can enter any number of Monthly, Yearly or One Off extra payments, at any period during the loan. Then watch the total loan length and cost go down. You may be surprised by just how much!
Easily visualise your cost savings in the simple and interactive charts. Just slide your finger along to see the costs for each year.
5-Stars - "...beautiful, simple graphs which make tricky decisions a whole lot easier."
5-Stars - "...really helped me to compare the different mortgage deals"
*** Highlights ***
--------------------
Specially designed for the US market:
√ See effect of regular or one off Extra Payments
√ Variable Rates support
√ Calculate the 'True Cost', by including Tax etc
√ Takes into account PMI
√ Try out various 'What-If' scenarios
√ Email a PDF or HTML of the loan details
√ Support for ARM 3/1, 5/1, 7/1 mortgages
√ Charts allow easy visualisation of the costs
√ Make an informed choice by comparing loans
√ Backup & Restore via Dropbox
√ Passcode protection
√ Elegant, simple and powerful user interface
*** Quick Calculators ***
-----------------------------
Super quick calculators for instant answers:
√ How much can you afford to borrow?
√ Monthly Payments
√ Money Saving Effect of Extra Payments
√ Cost of Moving House
*** Analyse & Compare ***
---------------------------------
Visualise mortgage costs in simple, easy to understand charts:
√ Store details of multiple mortgages
√ Easily see the costs for each year with a slide of the finger
√ Try out various 'What-If' scenarios
√ Extra payments can 'Reduce Term' or 'Reduce Payments'
√ Include Tax, Insurance, PMI in the payments
√ Support for 'Repayment' or 'Interest Only'
√ Monthly breakdown of costs (Amortization)
√ Compare up to 4 mortgages side by side
√ Support for ARM 'Initial Rates' e.g. 4% for 3 years
*** Voted #1 Property App - upack.com ***
---------------------------------------------------
"The strongest arrow in its quiver is the way it handles hypothetical situations, letting you analyze all manner of mortgage-related queries, such as how much you can afford to borrow, and a variety of other what-if scenarios..."
Note that multiple currencies are supported!
Reviews
Great app
Mr. E. Jenkins
Brilliant app, ideal for working out how much time and money extra payments can save you. The charts and tables make it dead easy to visualise the effects. And contrary to the previous review, there is a whole section dedicated to entering your Tax and Insurance info on the mortgage details screen.
Better then the rest (at least the ones I tried or bought)
Tu Nguyen
I purchased several other calculators before this one when i ws looking into home loans. I used this the most and deleted the others. After the purchased of my home, I still use this to see how my extra payments affect the life of the loans. Simple and easy to figure out. Save yourself the money and buy this first.
EXCELLENT
SR-Agi-Tatter
Very well done. A lot of flexibility, provides all the right tools and options to explore all possible scenarios.
Great!
Katewolfie
Outstanding application, blows everything else that I've tried out of the water. I've got the information entered for all 5 mortgages, and an using the application to strategize overpayments to maximize profits and minimize loss. Perfect for investors!
Mortgage guys best friend
Manwaplan
This app makes you sound super smart and financial savvy to your clients. They are going to think that you've spent hours researching savings for their loans when all you have is your trusty IPhone I'm front of you. For 2 bucks this app is the deal of the century!
simple, handy, useful
323wsp
I wish I would have had this with my first mortgage. Excellent and simple tool. I hope it stays that way. Nice mix of visual and spreadsheet-like tools.
Good Application
Teresa Yourman
Great for the "what if" calculations. A couple of things that I don't like: 1) Upon entry, it uses the date of loan as the first payment date, not accounting for the time between date of loan and 1st payment and the accrued interest. 2). Extra payments can't be entered on specific dates ... Just the month of regular payment so the accrued interest is always going to be off. I make many small extra payments to keep checking account at an even xx10.00 balance and the application can not adjust for this.
