*** Featured by Apple as 'What's Hot' *** Loan Calculator has one aim - To SAVE YOU MONEY on your loan! If you're taking out a loan, looking to organise your loans, or want to pay off your loan early, then this is the perfect app for you. Try out various 'What-If' scenarios and quickly see how extra payments can save you a whole lot of time and money. You can enter any number of Monthly, Yearly or One Off extra payments, at any period during the loan. Then watch the total length and cost go down. You may be surprised by just how much! Easily visualise your cost savings in the simple and interactive charts. Just slide your finger along to see the costs for each year. 5-Stars - "...beautiful, simple graphs which make tricky decisions a whole lot easier." 5-Stars - "...really helped me to compare the different loan deals" *** Features *** -------------------- Visualise loan costs in simple, interactive charts: √ Organise any number of loans √ Support for mortgages, car loans, credit cards and many more √ See money saving effect of regular or one off Extra Payments √ Variable Rates support √ Calculate the 'True Cost', by including Tax, Insurance etc √ Email a PDF or HTML of the loan details √ Takes into account PMI for mortgages √ Monthly breakdown of costs (Amortization) √ Full support for fixed 'Initial Rates' e.g. interest free for 6 months √ Try out various 'What-If' scenarios √ Charts allow easy visualisation of the costs √ Make an informed choice by comparing loans √ Extra payments can 'Reduce Term' or 'Reduce Payments' √ Support for 'Repayment' or 'Interest Only' √ Set of quick calculators for instant answers √ Backup & Restore via Dropbox √ Passcode protection √ Elegant, simple and powerful user interface
I use this for lots of what-if scenarios, auto loans, home refi, HELOC, etc.
This is a very useful modeling, and tracking tool, it helps plan financial decisions by giving you a realistic prospective of what new debt will cost allowing you to weigh options.
I mostly use Loan Mentor to run what if scenarios for new loans but it is also really useful to track existing loans and work out the best acceleration options.
It has been very useful!!
This is very useful when buying a car, take it to the dealer to calculate what you can afford.
I used this app to compare balance transfer offers. It showed me the total cost and how long it would take to pay off in each option. It will save me over $1000 when all is said and done.
I’ve used this app multiple times to run loan scenarios. It includes everything I need including an option to add extra payments at different times and intervals. It’s a keeper. I’d give it 5 stars if I could see a payment calculated on the input screen. Currently I need to finish input, rotate screen and then click the payment amortization schedule to see the payment.
I use this app quiet a bit. Nice
What should be a simple process is made impossible by this curious app. Enter loan details and it ask you for “rate” ... but this isn’t the interest rate, which is another field. So what is it? Even if you do enter all the loan data, it doesn’t tell you your monthly payments that I can find. Wait ... what?