The top 10 best mortgage calculator apps for the USA, along with their pros and cons and how to use guidance. Here is a list of the apps based on the web search results I found, ranked by their popularity and ratings:
1. Mortgage by Zillow:
This app allows you to compare mortgage rates, APRs, fees, monthly payments, loan lengths and more with customized quotes from 100+ lenders. You can also find a local lender who can help you get pre-qualified for a mortgage, and generate detailed payment schedules and reports. The app also has a refinance calculator, a HELOC calculator, and a HARP calculator.
- Available on iOS and Android
- Calculates your monthly mortgage payment, including principal, interest, taxes, and insurance (PMI)
- Allows you to compare different loan terms and interest rates
- Provides a detailed amortization schedule
- Offers mortgage pre-qualification
Pros: Easy to use, real-time mortgage rates, tax information, multiple payment scenarios, connect with email.
Cons: None
How to use:
Download the app from the App Store and enter your loan details, such as home price, down payment, loan term, interest rate, etc. You can also adjust the settings to include taxes, insurance, HOA fees, etc. You can then view your monthly payment and compare different loan options. You can also contact lenders directly from the app or get pre-qualified.
2. Karl’s Mortgage Calculator:
This app supports fixed and adjustable rate mortgages, and allows you to enter five different interest values. You can also add 10 different payment schedules and extra payments. The app can calculate EMI as daily, weekly, or yearly compound interest.
- Available on iOS and Android
- Simple and easy-to-use interface
- Calculates fixed-rate and adjustable-rate mortgages
- Includes a variety of features, such as a payment calculator, amortization schedule, and loan comparison tool
Pros: Supports multiple languages, comprehensive loan calculation, multiple payment schedules.
Cons: UI is not customizable, contains ads.
How to use:
Download the app from the App Store2 or Google Play and enter your loan details, such as loan amount, interest rate, loan term, etc. You can also adjust the settings to include taxes, insurance, PMI, etc. You can then view your monthly payment and amortization schedule. You can also change the interest rate or add extra payments to see how it affects your loan.
3. U.S. Mortgage Calculator:
This app allows you to estimate payment amounts, including all extra expenses and taxes. You can add multiple extra payment scenarios to help decide payments. The app generates a detailed payment schedule and report, which you can download and share.
- Available on iOS and Android
- Calculates your monthly mortgage payment, including principal, interest, taxes, and insurance (PMI)
- Allows you to see how different factors, such as interest rates and down payments, affect your monthly payment
- Provides a detailed amortization schedule
Pros: Easy to use, quick mortgage calculation, multiple payment scenarios.
Cons: Cannot track multiple mortgages.
How to use:
Download the app from the App Store or Google Play and enter your loan details, such as home price, down payment, loan term, interest rate, etc. You can also adjust the settings to include taxes, insurance, PMI, HOA fees, etc. You can then view your monthly payment and amortization schedule. You can also add extra payments or change the loan term to see how it affects your loan.
4. Loan Calculator Pro:
This app is an easy to use iOS financial calculator. The app has early payment simulation, extra payment tracking, etc. Calculations are done instantly as you enter values. With this app, you can save estimates and export loan information via email.
Pros: Family sharing, easy to use.
Cons: Difficult to add additional payment.
How to use:
Download the app from the App Store and enter your loan details, such as loan amount, interest rate, loan term, etc. You can also adjust the settings to include taxes, insurance, PMI, etc. You can then view your monthly payment and amortization schedule. You can also change the loan term or add extra payments to see how it affects your loan.
5. Mortgage Calculator:
This app does not do everything other applications do, but everything the app claims to do is simple and clean. You can customize the UI with available themes and colors. The app allows you to import loan details from email and also add payment details. You can print or save amortization as a PDF.
Pros: Easy to use, fast, add payment details.
Cons: Placement of ads.
How to use:
Download the app from Google Play2 and enter your loan details, such as home price, down payment, loan term, interest rate, etc. You can also adjust the settings to include taxes, insurance, PMI, HOA fees, etc. You can then view your monthly payment and amortization schedule. You can also import or export loan details from email or save them as PDF.
6. Mortgage Home Loan Payment Calculator:
This app is a simple and elegant mortgage calculator that helps you estimate your monthly mortgage payment based on home price, down payment, interest rate, and loan term. The app also shows you how much you can save by making extra payments.
Pros: Simple and elegant design, extra payment calculation.
Cons: No tax or insurance information, no amortization schedule.
How to use:
Download the app from the App Store and enter your loan details, such as home price, down payment, interest rate, and loan term. You can then view your monthly payment and total interest paid. You can also enter extra payments and see how they affect your loan.
7. Mortgage Payoff Track:
This app helps you track your mortgage balance and payoff date based on your payment history and current situation. The app also shows you how much you can save by making extra payments or refinancing your loan. The app supports multiple mortgages and currencies.
Pros: Track multiple mortgages, save money by extra payments or refinancing, support multiple currencies.
Cons: No tax or insurance information, no amortization schedule.
How to use:
Download the app from the App Store and enter your loan details, such as loan amount, interest rate, loan term, start date, etc. You can then view your current balance and payoff date based on your payment history. You can also enter extra payments or refinance scenarios and see how they affect your loan.
8. Easy Mortgages:
This app is a simple and intuitive mortgage calculator that helps you estimate your monthly mortgage payment based on home price, down payment, interest rate, and loan term. The app also shows you the amortization schedule and the total interest paid
.Pros: Simple and intuitive design, amortization schedule, total interest paid.
Cons: No tax or insurance information, no extra payment calculation.
How to use:
Download the app from the App Store and enter your loan details, such as home price, down payment, interest rate, and loan term. You can then view your monthly payment and amortization schedule. You can also change the loan term or interest rate and see how it affects your loan.
9. EZ Financial Calculators:
This app is a comprehensive financial calculator that includes a mortgage calculator as well as other calculators for loans, investments, retirement, savings, etc. The app allows you to calculate various scenarios and compare different options. The app also generates graphs and charts to visualize the results.
Pros: Comprehensive financial calculator, compare different scenarios, graphs and charts.
Cons: Complex and cluttered design, ads.
How to use:
Download the app from the App Store and select the mortgage calculator option. Enter your loan details, such as home price, down payment, interest rate, and loan term. You can then view your monthly payment and amortization schedule. You can also compare different loan options or change the loan term or interest rate and see how it affects your loan.
10. Google:
Google is not an app, but a web search engine that can also perform mortgage calculations. You can simply type in your loan details, such as home price, down payment, interest rate, and loan term, and Google will show you your monthly payment and amortization schedule. You can also adjust the settings to include taxes, insurance, PMI, etc. You can also compare different loan options or change the loan term or interest rate and see how it affects your loan.
Pros: Easy to use, fast, no download required.
Cons: No extra payment calculation, no reports or graphs.
How to use:
Go to Google.com and type in your loan details, such as “mortgage calculator 300000 20 3.5 30”. You will see a mortgage calculator widget that shows you your monthly payment and amortization schedule. You can also adjust the settings to include taxes, insurance, PMI, etc. You can also compare different loan options or change the loan term or interest rate and see how it affects your loan.
I hope this list is helpful for you.
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