Karl's Mortgage Calculator 4+

I wanted to determine what the short, mid and long term financial benefits would be in refinancing our current mortgage now that interest rates have dropped. I wanted detailed comparisons, and some key questions answered, not just a semi-useless summary. I tried several online calculators... very awkward to get the level of detail needed. Irritating ads. Needed pencil and paper - to answer some key questions - awkward. I could have done it manually on my business calculator sitting idle in the kitchen draw.... big pain in the neck to get the level of detail needed in usable form.

Karl’s calculator was fantastically easy to use, user friendly, fast, and lays out all the amortization details on an easy to play with slider tool. The amortization tables, with loan balances, interest paid, etc. etc., charts, graphs, summary, and more are all there and intuitive to use.

So, I entered the variables for my current mortgage and wallowed within the results. Did the same for other scenarios. I emailed the detailed reports to myself, compared the .csv spreadsheets (all on my IPad). Don’t bother to look elsewhere for a mortgage calculator. Even if your needs are totally basic, you can’t beat this one.

I own a handful of properties and I’m always looking for ways to tweak my payments as rent goes up or as I come in to more income so that I can shorten my payoff dates. There are plenty of mortgage calculator apps or online calculators out there, but I always find some thing that they’re lacking or that’s annoying about their use. But Karl’s calculator is just about perfect. I love that I can easily create new scenarios and that they automatically save and that I can email them when I’m done and the recipient of the email does not need the app in order to see the summary. Simply click on the attachment and they have a tidy summary of the scenario that I’ve run. Like I said, perfect!

I am buying my first home and wanted to be able to play with some scenarios after speaking with my lender. I was able to arrive at the same numbers we’d discussed and then play with them by adjusting different amounts. You can include PMI, based on your credit, and other relevant factors - or not. I feel some empowered! I can’t wait until my next conversation with the lender. She won’t know what hit her! Thank you so much for this invaluable tool.