Mortgage Calculator by Quicken Loans app review: get an idea of your mortgage payment

Mortgage Calculator by Quicken Loans

Price: Free

Mortgage Calculator by Quicken Loans Inc. gives you a way to figure out what your mortgage payment would be, quickly and easily.

There’s no need to head to the bank just to get an idea of what your mortgage payment would be thanks to this app. If you’re searching for a new home, are a first time buyer, or you’re looking to renew your mortgage, this is a great way to get an idea of what your new payment would be. This app can be used by real estate agents, homeowners, and buyers.

Features of this app include four different ways in which you can calculate your mortgage. Plus when you finish calculating it you can save it to favorites. The app also gives you access to real-time mortgage rates.

The different ways in which you can calculate your mortgage are with the home affordability calculator that gives you a rough idea of what you can afford, the payment refinance calculator to tell you what you'd be paying should you refinance, the payment purchase calculator which is ideal when you're shopping for a new home, and the amortization calculator that will look at the total cost of your loan and show you how much you could be saving by making extra payments.

Mortgage Calculator by Quicken Loans was updated on Apr. 9, 2013 and currently has 95 customer ratings with an average rating of four and a half out of five stars.

I found this app to be very versatile thanks to the variety of calculators that make it ideal for all kinds of people.

Pros
• Four different calculations can be shown to you
• Uses real-time mortgage rates
• The ability to save your favorites

Cons
• Could offer even more calculators to cover all aspects of mortgage lending

For: iPhone, iPod touch, and iPad with iOS 5.0 or later. Mortgage Calculator by Quicken Loans is optimized for iPhone 5.