Are you currently looking to buy a house? Maybe you already own a home and you are just looking for some ways to save money on your current mortgage. Well if this is the case you do not have to rely on outdated methods for trying to save money on either getting a mortgage or saving on the one you already have. There are actually several apps out there that you can use that will make this easy. Now I know what some people are thinking.
Why would you want to use an app? Doesn’t it make much better sense to use traditional methods? Well using apps has a lot of benefits for those looking to get a mortgage or save on an existing one.
- Apps that are out there are usually very cheap if not free altogether. These apps make it easy for you to look at just about any type of information you want. Plus you will have easier access to them and faster access to them.
- Apps for saving money on a mortgage or getting a mortgage are not all the same. Some of them come with more features than others. This means you will have variety. You can find exactly what works for you the best.
- Apps for saving money when you are trying to get a mortgage or if you are trying to save on an existing one come in different format so that they can be used with different devices. This means no matter what kind of phone you have there is likely an app that would work for it.
With all of this being said we need to give you an idea of some of the options that are out there. Following are 5 mortgage apps that can either help you save money when trying to get a mortgage or if you are trying to find ways to save on the one you already have.
Android Mortgage Calculator
The Android Mortgage Calculator is for those who have Android based phone. The app is completely free. Here is a basic list of what it does.
- Has a lot of the same functions as some of the more commonly used basic apps on the market.
- It is able to display a monthly or yearly amortization table for people.
- It has a number of options regarding computing a loan. This would include adding additional monthly, yearly, or one time payment and it also allows people to chart their interest versus the principle they have paid on a loan.
CalcsFree Mortgage Calculator App and CalcsPro Mortgage Calculator App
This app is for those who have an iPhone. It is not free. You will pay about $2.00 for it. Here is what this app is able to do.
- Helps to break down monthly payments by principle and interest, property taxes, insurance, HOA fees and more.
- Has good amortization tables and graphs and is able to display charts that have information such as post tax interest, estimated tax savings, as well as principle.
Calcmoolator Pro
The Calcmoolator Pro is for those who have a Droid or an iPhone. It is completely free. Here is what it is able to do.
- Is a multipurpose tools that has several types of calculators in it and these allows you to add up things such as tips, whether to rent or buy homes and cars, auto loan estimates, mortgage payment estimates, credit card debt payments, etc.
- As a mortgage calculator it has some pretty good functions which would include a breakdown of mortgage affordability, PMI estimates, and second mortgage searches.
iPMT Mortgage Calculator
The iPMT Mortgage Calculator is made to be used for the iPhone. It is one of the more expensive apps, costing about around $8.00. Here is what it is able to do.
- Has basic mortgage calculator functions.
- Has multiple loan programs features in it, which would include conventional, FHA, and VA.
- Has PMI, MIP, and LTV estimates.
- Is able to validate the down payment on all loan types.
- Is able to automatically update itself when any industry changes.
Real Estate Droid 2.3.7
The Real Estate Droid 2.3.7 is made for Android based phones. It does not cost anything. Here is what it is able to do.
- Real Estate Droid 2.3.7 is better then the average mortgage app and is really a general real estate app.
- Enables you to look for homes in your area or you can put in an address for a specific property in order to find out sale information.
- You can use it to research properties or find out information about the neighborhood it is in.
- It has a mortgage calculator that helps people to figure out mortgage costs, which would include fields for insurance and taxes. You can even use it to get mortgage quotes.
How well do you think any one of these apps are going to work for you? Well a lot of that is going to depend on just how serious you are about using them. There are actually far more apps for people looking to get a mortgage or save on their current one then what was listed here. You will need to make the commitment to using the one you feel is really going to provide you with the most value though. These apps might not help you as much as you might hope, but they will definitely help you to save money if it is at all possible.
Do yourself a favor and take the time to study up on some more mortgage applications that might suit you well. Do not be afraid to pay a little money for one if you feel it is going to really be good. Look over the list of features offered and try to focus on the ones that take on the specific benefit you are looking for. These apps are going to have multiple uses and you will want to recommend them to others who might be in the market for a mortgage or those are are looking to save on their current one.
