Zillow, makers of the popular online real-estate database, has released Mortgage Rate and Calculator, an app that you can use to find a better rate on your mortgage and to calculate potential monthly payments. I can see this one becoming a real popular download for those who work in the real estate business.
With Zillow’s Mortgage Calculator and Rates app, you will be able to calculate how much home you can afford, what your mortgage payment will be, and whether it makes sense to refinance. In addition, you will be able to receive personalized loan quotes from reviewed lenders.
The app features the following calculators:
- Affordability calculator – Calculate the home price you can afford and money left over after your mortgage payment. Ideal for renters, or prospective home buyers.
- Payment calculator – See your estimated monthly mortgage payment and how it breaks down into principal, interest, taxes and insurance. Re-adjust figures for different home price, down-payment and rate scenarios.
- Refinance calculator – Estimate how much money you could save if you refinance. Includes breakeven point and savings over the life of the loan.
Whether you’re a real estate professional or a first time home buyer, it won’t be a bad idea to download Zillow’s Mortgage Calculator and Rate app from the Market. It’s free and can be very useful. To download, head to the Android Market or scan the QR code below.
(How to use QR codes)
Android Market Link
