Comprehensive and educational mortgage app – Mortgage Calc Pro Review

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.
Review by thinkmega on Mortgage Calc Pro.