Use Mortgage Calculator Apps To Help Buyers Stay Within Budget

Today in our continuing series about real estate apps we feature the benefits of a mobile mortgage calculator app.

Staying in budget is everything for buyers and that’s why a Mortgage Calculator smart phone app is a great tool for agents. With a mobile Mortgage Calculator, you’ll be able to easily graph, chart and calculate mortgage payments for your buyers right from your phone.

There are a variety of mortgage calculators on the web – Karl’s Mortgage Calculator has become very popular because it is easy to use and goes beyond simple calculations.

Karl’s Mortgage Calculator allows you to compute the following:

Fixed Loan Data, i.e. principal, interest rate, years, annual insurance, monthly payment amount, total interest, real interest, start date, end date, etc.

Prepayment Data, i.e. monthly prepayment, annual prepayment, one time prepayment, total savings, etc.
Extra Payments Data, i.e. months and amounts of additional payments.

Interest Rates Data, i.e. varying interest rates, interest-only payments, etc.

ARM Data, i.e. fixed ARM duration, interest cap percentage, minimum and maximum interest, total payments, total interest, etc.

It also graphs and charts very useful data – such as amortization, repayment time lines, balance, interest, annual table, monthly table, payments and a summary.

This particular Mortgage Calculator is free and available for Droid phones. The iPhone app store has many to choose from as well.