As real estate agents, we've all been there: kneeling in an unfurnished house, helping our client through a couple of math situations as we compare and contrast a couple of houses and loan situations. That's why every agent could use a good mortgage calculator app, such as Karl's Mortgage Calculator in the Android Market or Home Shopper for iOS.. Karl's Mortgage Calculator enables you to calculate mortgage payments given principal, interest and loan terms. And you can reverse calculate any of the other variables given the other three. Perhaps even more useful, you can see how the monthly payment changes when factoring in additional monthly costs like mortgage insurance, taxes, homeowner's association dues, and property insurance.
Have international clients? Karl's Mortgage Calculator supports multiple currencies for easy translation.
Home Shopper on iOS is just as robust. This app isn’t just for buyers, it’s a must have companion for real estate agents and lenders in the field who need quick answers for their clients regarding the costs and benefits associated with owning a property. Do you need to know the total monthly break down of owning a home, as well as what your tax benefits will be in plain easy to understand terms? Want to be able to compare those figures to what you’re currently paying in rent and then email that entire report to yourself, your agent, your spouse or whoever? Then Home Shopper is for you.
There are literally hundreds of mortgage calculator apps out there. Both of these are very professional looking, without being bloated with unnecessary functions that make it difficult to use. Graphs and charts help visualize the data so it's quick and easy to understand.
Cool App overview
Name: Karl's Mortgage Calculator (Android) & Home Shopper (iOS)
What it does: These Calculators enable you to calculate mortgage payments given principal, interest and loan terms and more.
How to use it: Download the app to your device. Enter down payment amount or percentage and let the calculator show how large a mortgage you require.
Cost: Karl's Mortgage Calculator (Free) Home Shopper (.99 cents)