Description

Mortgage Calculator -- Ridiculously easy to use.
Built for every-day professional use by loan officers and real estate agents, but easy enough for everyone to use! -- Enter Loan Amount, Interest Rate, Number of Months, and hit "Payment" for instant result.

Can also easily reverse-calculate loan terms -- enter any 3 loan terms (Loan Amount, Interest Rate, Number of Months, and Payment), and instantly calculate the 4th.

Calculates car and auto loans too! Also fully functional simple basic calculator.

-----------------------------------------------------------
Example #1 -- What will my monthly payment be?
-----------------------------------------------------------

Calculate monthly payment for $120,000 loan, 4% interest, 30 years (360 months):

√ Enter 120000. Tap "Loan $".
√ Enter 4. Tap "Rate %".
√ Enter 360. Tap "Months".
√ Tap "Payment" to calculate monthly payment.

Result shows $572.90 per month.

-----------------------------------------------------------
Example #2 -- How fast will I pay off my loan?
-----------------------------------------------------------

I owe $140,000 and my interest rate is 4.25%. I am paying $1000 per month.
How long until it's paid in full?

√ Enter 140000. Tap "Loan $".
√ Enter 4.25. Tap "Rate %".
√ Enter 1000. Tap "Payment".
√ Tap "Months" to calculate how long it will take to pay in full.

Result shows 16 years and 2 months.

-----------------------------------------------------------
Example #3 -- How big of a loan can I afford?
-----------------------------------------------------------

The bank's interest rate on a 20-year loan is 3.75%, and I can afford $1250 per month.
How big of a loan can I get?

√ Enter 240. Tap "Months".
√ Enter 3.75. Tap "Rate %".
√ Enter 1250. Tap "Payment".
√ Tap "Loan $" to calculate the largest loan I can afford.

Result shows 210,832.29.

-----------------------------------------------------------------------
Example #4 -- Calculate the current interest rate on a loan.
-----------------------------------------------------------------------

I know I pay $960 per month and that I have been in my 30-year loan for about 4 years.
My loan balance is about $132000.

√ I have about 26 years left on the loan. How many months is that?:
√ Enter 26. Tap "*" (multiply). Enter 12. Tap "=" (equals).
√ Result shows 312. Tap "Months" to input that as months remaining.
√ Type 960. Tap "Payment".
√ Type 132000. Tap "Loan $".
√ Tap "Rate %" to calculate the interest rate.

Result shows 7.4675%.

If you like this App, please Rate us and consider writing a review. Positive reviews and ratings help us know we're doing something right. If you have a complaint or suggestion, please contact us via the Support link so that we may correspond with you.

No ads – ever!

Subscription required.
Privacy policy: https://nuclearcyborg.com/privacy
Terms of use: https://nuclearcyborg.com/terms

Hide.. Show more..