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 its 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 banks 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 were doing something right. If you have a complaint or suggestion, please contact us via the Support link so that we may correspond with you.
Try it for free for up to 21 days, then get Lifetime Access with a single in-app purchase unlock.
Privacy policy: https://nuclearcyborg.com/privacy
Terms of use: https://nuclearcyborg.com/terms