Mortgage Calculator

Mortgage Calculator is an application that gives you the possibility to determine how much money you would have to repay the bank with interest after borrowing a loan. It shows a repayment summary along with comparisons between monthly and biweekly payments.
It doesn't take long to set up the loan calculator. However, you should check if your computer is equipped with .NET Framework, since the app cannot work without this software framework.

Set the mortgage parameters

As far as the GUI is concerned, Mortgage Calculator has a single window where all options are neatly stacked. You can get started by entering the mortgage parameters, namely the home value, credit profile (poor, fair, good, excellent), loan amount and purpose (refinance, new purpose), interest rate (%), loan term (years), start date, property tax, and PMI (Private Mortgage Insurance).

Study the mortgage repayment summary

Based on this information, you can learn the mortgage repayment summary with the value of the monthly and total payments, total interest paid, pay off date, total tax and PMI paid, along with the value of total monthly PMI payments as well as the PMI pay off date.
When it comes to the monthly versus biweekly payments, you can find out the values of the monthly and biweekly payments, monthly and biweekly pay off dates, along with the total interest paid and total interest savings.

Cannot save loan information

Unfortunately, the developer hasn't implemented options for copying all data to the Clipboard, printing it or saving it to file. Therefore, if you want to keep the information, you have to resort to pen and paper or keep a text editor opened next to the main window of Mortgage Calculator to enter the numbers.

Conclusion

All things considered, Mortgage Calculator offers a simple solution for calculating loan repayments. However, you should consult a financial specialist before making any decisions regarding the bank.