Loaner | Mortgage calculator3.4.0 - Google Play

💪 LOANER is the new kid on the block of
mortgage calculators

has 4 tabs:
» SETTINGS | set your budget and add your loan's main terms
» EXPENSES | review/change initial expenses/closing costs/fees
» LOAN | review the final loan amount, monthly payment and all key points
» STATS | check your amortization schedule, set different interest rate per year, make extra payments, watch your monthly payments on a graph

This
mortgage calculator
mostly needs
4 things
:

» value of the property you wish to purchase
» your annual income
» your total cash savings amount
» adjust some sliders

And gives you
answers
on:

» What is the
total loan amount
I would need to buy that property?
» Is it gonna get
approved
by the lender? 🤑
» How much is the
total interest
i would pay?
» What is the amount of
monthly payment
?
» How much do I really
stand
to pay for?
» What is the
maximum
loan amount that can be approved?
» What happens when the
interest rate
is not fixed?
» What will happen if rates rise?
» How much do
extra payments
reduce my monthly payment?
» What are the
closing costs
and how do they
affect
my payment/loan-total?
» What is better, many years/low-payment or less years/high-payment?
» What is the total amount of
down payment
i would need to pay?
» What is the percent/amount of paid/remaining principal/interest for each year?
» What is the
total monthly payment
including insurance and taxes?

Is it all about just having
enough cash
for the down payment? 💰

Getting a mortgage isn’t free. Before you get those house keys, you’ll need to sign loan documents and paperwork that transfers homeownership from the seller to you. Throughout your home purchase, third parties, as well as your lender, have performed services.
Closing costs are fees
these professionals charge for these services to finalize the real estate transaction and your home loan.

How Much Are
Closing Costs
?

Closing costs typically range from 2% to 5% of the property’s purchase price. Thus, if you buy a $200,000 house, your closing costs could range from $4,000 to $10,000. Closing fees vary depending on your state, loan type, and mortgage lender, so it’s
important
to pay close attention to these fees.

ℹ️ If you disable all closing costs then typically the savings input field acts like a down payment amount field.

Happy mortgaging! 😀