Free iOS and Android Mortgage Calculator Apps 2021
What is a mortgage?
A legal agreement by which a bank, building society, etc., obtains a loan at interest in exchange for ownership of the debtor’s property, provided that the transfer of ownership becomes void upon repayment of the debt.
How to calculate my mortgage accurately?
How to calculate mortgage payments
- M = Represents the total Monthly mortgage payment.
- P = Stands for the principal loan amount.
- R = Represents our monthly interest rates. Lenders will provide you an annual rate, so you’ll need to divide that amount by 12 (the number of months in a year) to get the monthly rate. …
- N = number of payments over the loan’s lifetime.
Mortgage Calculator Apps
With the expanding marketplace of apps and online tools, it is easier than ever to calculate mortgages to compare costs, payment schedules, and interest rates. Please keep reading to see our main picks for the best mortgage calculator apps for brokers, realtors, and home hunters.
Here are the Top 5 Free iOS and Android Mortgage Calculator Apps 2021
1. Zillow Mortgage Calculator app
This is a beautiful, sleek app that is available for free download through iTunes. The main Key features of the Zillow app include a home affordability calculator, refinance calculator, and real-time mortgage rate comparison.
The app also calculates the user’s mortgage payment and divides it into principal, taxes, interest, and insurance.
Main app Key Features
For home-shoppers:
• Find out how much you will be able to afford or spend on a new home with our home affordability calculator.
•Find a local lender to discuss your loan options and help you get pre-qualified to buy a home.
• Estimate the hardest part of your monthly mortgage payment with our mortgage payment calculator.
• “Call lender,” a function that allows you to contact lenders directly through the app.
• Compare mortgage rates with others, APRs, fees, monthly payments, loan lengths, and more with customized quotes from 100+ lenders.
• Get real-time or latest current mortgage rates based on your location and loan requirements.
• Rate the history makes it easy to come back and compare past rates with current quotes.
For homeowners:
• Our calculator estimates your breakeven point and shows money savings over time.
• You can easily share results with your spouse or partner from the app.
• Find your desired HELOC lender to see if you can tap into your home equity opportunity.
• Compare the latest rates to see if you can lower your interest rate.
• HARP quoting provides custom refinance rates for homeowners who are upside-down on their mortgage.
Download here
Compatibility: Requires iOS 8.0 or later. Compatible with iPhone, iPad, and iPod touch.
2. Loan Loan Calculator
The most comprehensive mortgage calculator for purchase/refinances analysis. See the impact of taxes on your net mortgage costs.
The most comprehensive best-selling Mortgage Calculator app on the App Store with 500,000 users since 2008. Advanced analysis on the go. Unique features not offered by other loan calculator offerings. See the impact of tax savings on your affordability.
Extended depreciation. The total cost of ownership allows you to make intelligent decisions—the only Loan Calc app with the distinction of being in MintLife’s top 10 apps. Type “CalcsFree” into your favorite search engine (CalcsFree was the previous name of the app), and you’ll see hundreds of pages of reviews and unsolicited video reviews that people have posted about this app.
1) Quick calculator
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For people who need Payment based on Rate and Term in 3-4 clicks.
In addition, the results give you a simple amortization table that you can email to anyone and a total costs calculation to predict your affordability.
2) Simple
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* Designed for people with a need for on-the-go and simple analysis.
* Simple Input Methods.
* Comprehensive results.
* By popular demand, the calculator now supports multiple scenarios.
3) Extended
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* Helps you to beat the lender at his/her own game! Understand terms like DTI, LTV, etc.
* Designed for people who want to conduct detailed analysis about their situation and understand loan criteria used by lenders.
* Input values as either a percent or an absolute amount.
* Click on the ⓘ icon to see help & advice on the topic.
* Analyze multiple loans for multiple properties.
* Comprehensive analysis to help with your affordability calculations.
Download here
Compatibility: Requires iOS 8.0 or later. Compatible with iPhone, iPad, and iPod touch.
3. Quicken – Loan Mortgage Calculator
This very high-rated free app features several different calculators, including monthly payments for new purchases or refinancing, home affordability, and an amortization calendar.
The interface is very flexible and easy to use, and you can save and share your calculations via e-mail, Twitter, and Facebook integration.
Download here
Compatibility: Requires iOS 7.0 or later. Compatible with iPhone, iPad, and iPod touch.
4. U.S. Mortgage Calculator
This free PITI mortgage calculator will allow you to enter the data needed to help you estimate your monthly (or bi-weekly) payments, including principal and interest, property taxes, PMI, homeowner’s insurance, and HOA fees.
You also have the option to check how your additional payments will lower your total interest expense and accelerate your mortgage payments. The Calculator also helps to calculate the total of all payments, including one-time fees and prepayments, additional payments, taxes, insurance, and fees.
You can also see a full detailed mortgage payment schedule. You can decide to share this information via SMS, E-mail, or any other messaging application. You can save the results to your favorite application notes.
This free PITI mortgage calculator will allow you to input the data needed to help you estimate your monthly (or bi-weekly) payments, including principal and interest, property taxes, PMI, homeowner’s insurance, and HOA fees.
You also have the option to check how your additional payments will lower your total interest expense and fast-track your mortgage payments.
The Amortisation Calculator in the app also calculates the total of all payments, including one-time fees and prepayments, additional payments, insurance, taxes, and fees.
You will also see a very detailed mortgage payment schedule.
You can also choose to share your information via e-mail, SMS, or any other messaging application. You can also save the results to your favorite application notes.
Download here
Compatibility: OS Android. Compatible with iPhone, iPad, and iPod touch.
5. Free EMI Calculator app
With the amazing colorful charts and instant results, this free Loan EMI Calculator app is easy to use, quick to understand and performs tasks really fast.
You can calculate EMI for a home loan, personal loan, car loan, education loan, or any other fully amortizing loan in India using this app.
You can also check how pre-payment can help reduce total interest outgo and reduce the loan tenure.
Download the app and enter the following information:
– Principal Loan Amount (rupees)
– Rate of Interest (percentage)
– Rate of Interest (percentage)
– Loan Tenure (months or years)
– Extra Payments / Prepayments – Optional
– Actual Fees & Charges (rupees) – Optional
– EMI Scheme (EMI in arrears or EMI in advance) – Optional
– The Start Date (month & year) – Optional
You are presented with a currency payment summary with a break-up of principal and interest components, payment schedule, and charts for the loan details entered.
You can also decide to share this information via e-mail, SMS, or any other messaging app. You can also share the results with your favorite note-using this app.
The app also has the ability to computes the loan APR (aka IRR) using the fees and charges entered. This is especially useful for loans with 0% EMI schemes where fees and charges are billed (instead of interest) when purchasing mobiles, computers, or household items.
Download here
Compatibility: OS Android. Compatible with iPhone, iPad, and iPod touch.
See also: Top 10 amazing facts about how money is made today.
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Reference: Dreamcasa.org
