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Loan Calculator & Tax Savings app for iPhone and iPad


4.7 ( 17 ratings )
Business Finance
Developer: MORTAL GEEK LLC
Free
Current version: 1506434815, last update: 4 years ago
First release : 11 Jul 2009
App size: 17 Bytes

The most comprehensive, best selling Mortgage Calculator App in the App Store with 500,000 users since 2008. Advanced analysis on the go. Unique features no other loan calculator offers. See impact of Tax savings on your affordability. Extended Amortization. Total costs allow you to make smart decisions. The only Loan Calc App with the distinction to be on the MintLifes top 10 apps to have. Type "CalcsFree" in your favorite search engine (CalcsFree was the previous name of the application) and you will see hundred of pages with reviews and un-solicited video reviews people have posted regarding this application.


1) Quick calculator
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For people who simply 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.


Common Features
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* Wicked fast; designed for attractive, simple usability with field navigation between text fields (similar to Safari).
* See estimated Tax Savings. The savings calculations are automatically capped based on tax-filling-status--something no other calculator offers--**PERIOD**.
* E-Mail Loan Summary, Total Costs, Amortization Table etc. to yourself or a friend.
* Loan Term can be Years AND Months (not just Years).
* Ability to Input "Other Tax Deductible Expenses".
* See Effective Monthly Payment (i.e. amount after Estimated Tax Savings).
* See Monthly Payment broken down into various components (such as PITI, PITI + MI etc.)
* See Total costs over 5, 7, etc. years, not just over life as other calculators do! Helps with making Purchase or Refinance decisions if you are not going to stay for the life of the loan.
* Pick the date of the first payment and see not one, but ** TWO ** types of Amortization tables! A "Simple" Amortization table shows all the information in a compact table format which can also be e-mailed to yourself or a friend. An "Extended" Amortization table puts a lot of detailed information at your finger tips (See below) including the total interest paid in a particular year. This helps with Schedule A deductions.


THE MOST COMPREHENSIVE "Extended" AMORTIZATION TABLE
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1722690126

Pros and cons of Loan Calculator & Tax Savings app for iPhone and iPad

Loan Calculator & Tax Savings app good for

As a realtor I found this to be a great way to prompt me to ask the right questions and great email format to send to my lending agent. I say give it a shot.
good app! nice easy numeric pad to use. Dont like the ad though
Truly amazing! How can something this great be free? I use it all the time.
For a reasonable ball-park calculator, this hits it out of the park. Im now looking for the paid version because I like this and would like the extras too. Thanks for a great app.
Excellent app. Even had more detail than I expected by allowing me to calculate total costs on a 15 yr loan and then compare that to a 30 yr at the same rate. Love it
I dont really understand why the bad reviews. So what, if there are ads! This is the best "free" mortgage app around. The tax rates can be adjusted just fine. I am a Las Vegas Realtor, so Ive found this to be very useful. Thanks!

Some bad moments

Well, first of all its only for the US so useless for anyone in Canada. Secondly, no balloon payments or extra payments can be added. And thirdly, cant compare different time value mortgage payment schemes. Overall, just not a complete app...
When you adjust the percentage of property taxes it doesnt adjust the cost of the taxes. ??? This feature needs to be fixed or else its worthless.
There is a bug that make this app not to work properly, if this is fix then it will be a very good app.
Thankfully this was free! Needs fixes, the taxes are inaccurate. Should be able to change tax rate. Not useful for REALTORS in California.
It seems like the author internally didnt remove the button to force users to press ads, not a right way to get ads revenue.
Makes bad assumptions on default values for many field. Then when you try to correct those fields it forgets previous entry on other fields.

Usually Loan Calculator & Tax Savings iOS app used & searched for

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