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REI Tech

3 Awesome Loan Calculator Apps

accountantWhen you hear the word “calculator” you think clunky and obsolete right? Much like the evolution of the wireless phone, which weighed in at approximately 2.5 hefty pounds, the calculator has come a long way, too. Back in the day, the calculator was your BFF when it came to math homework and your handy dandy, never-leave-home-without-it check book balancer – and that was if you could figure out the difference between the “C” and “CE” buttons (a question I’m still pondering).

But times, they are a changin’, and as your real estate investment portfolio grows, the number of tools available to simplify your business is also growing.

Here at RealEstateMogul.com, we work hard to share with you what we feel are the most valuable tools on the market today, to help you make the most of your time and money, and to ultimately help grow your business. Today we picked the cream of the crop -- three loan calculators (with a surprise bonus) that are top-rated and available right now to help you crunch those numbers, weed out good deals from the not-so-good, and much more.

icon1Simple Loan Calculator

The Simple Loan Calculator can help you with annuities, differentiated payments and fixed payments – and you can calculate monthly payments, interest amounts, credit costs, and comparisons of all these moving parts between different loans.

See for Yourself…

Cost:  It’s simple, and it’s free!

Get It:  Designed for Android only.  Click here to download from Google.

icon2Mortgage Mentor Calculator

This one still offers simplicity, but with the Mortgage Mentor Calculator (referred to as “What’s Hot” by Apple), you can calculate different types of mortgages and loans.  Below are some of the key features that this loan calculator offers to help you calculate, analyze, and compare quickly and easily.

  • Simple graphics and charts to easily visualize costs
  • Loan details available in PDF or HTML to email
  • Passcode protection
  • Dropbox accessibility for backup
  • Elegant, simple, and powerful user interface
  • Support for ARM 3/1, 5/1, 7/1 mortgages
  • Monthly breakdown of costs
  • Support for Interest Only
  • Support for AMR Initial Rates e.g. 4% for 3 years
  • Capability to compare up to 4 mortgages side by side
  • Takes into account PMI

See for Yourself...

Cost:  It’s not free, but it only costs $1.99.  

Get It:  Designed for both iPad and iPhoneClick here to download from iTunes.

icon3Financial Calculator

Say "hello" to the mac-daddy of loan calculators! Financial Calculator is a full-blown, all-inclusive mortgage calculator with a modern twist. It’s robust – probably the most robust – of all the calculators we’re sharing with you today, but it’s also the most user friendly of them all as well. Its features include finance and investment, loan and mortgages, credit cards, and more. This one is compatible with iPhone, iPad, Android, and even Windows phones.

Here’s a list of some of the Financial Calculator’s key features and capabilities:

  • TVM calculator
  • Currency Converter
  • Compound Interest Calculator
  • Return on Investment Calculator
  • IRR NPV Calculator
  • Retirement/401K Calculator
  • Loan Calculator
  • Loan Comparison Calculator
  • Loan Refinance Calculator
  • APR Calculator
  • Credit Card Payoff Calculator
  • Credit Card Minimum Calculator

Other Key Calculator Capabilities:

  • Auto Loan and Lease Calculator
  • Tip Calculator
  • Discount Tax Calculator
  • Percentage Calculator

See for Yourself…

detail1detail4

 

 

 

 

 

 

 

 

 

 

 

Cost:  It’s free!

Get It:  Designed for a variety of operating systems.  Click here to download from iTunes.  Click here to download from Google.  And click here to download for Windows.

icon4HP-12C

It goes without saying (but I’ll say it anyway) that we like to over-deliver here at RealEstateMogul.com, and today’s lesson is no exception. Think of this fourth and final loan calculator as a bonus track, the free extra cheese on your pizza, and that surprise $20 bill you sometimes find in your pocket.

This one is for fans of “old school” – the old school HP-12C calculator to be exact. Every mortgage broker has used the HP-12C at one time or another, and now there is an app version that looks the same – but it’s better, sexier, and chock full of capabilities long anticipated by owners of the tried-and-true handheld version.

Today’s version of the HP-12C interfaces with RpnCalc Financial, the highest-rated and most popular financial calculator on the Android Market. The new HP-12C financial calculator line will feel very familiar to “old school” HP-12C users, but the new version calculates much (much) faster.

RpnCalc Financial is a highly-versatile full-function programmable financial calculator. It includes math, finance, and statistics functions including the following…

  • Time value of money (TVM)
  • Amortization
  • Cash flow analysis: IRR, NPV
  • Bond pricing
  • Date and interest calculations
  • Percentages, markups, percentage of total
  • Scientific mode
  • Basic (large key) mode
  • 20 Memories
  • 99 Program steps
  • Key click (haptic feedback)
  • Continuous memory

Improvements over the classic HP 12C:

  • 16-level stack
  • Front four stack elements displayed
  • Programs can be saved and restored
  • Programs displayed symbolically
  • Memories are not sacrificed to make room for program steps
  • Full amortization display, register display, NPV display, and program display

Also, with the HP-12C, calculator programs are stored and displayed symbolically, which makes programming much easier.  And programs can be stored and retrieved from the SD card whenever your Android device is in file-sharing mode.

That’s one sweet, old-meets-new loan calculating tool – the best of both worlds for those who like to kick it “old school”!

See for Yourself…

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Cost:  $5.00

Get It:  Designed for Android only.  Click here to download from Google.

When You Add It All Up…

Real Estate investing is a numbers game for sure, but you no longer need to punch-and-crunch numbers until your fingers bleed. All the loan calculators we mentioned here today (including “ol’ reliable”) can simplify the numbers game for you, and they can help you make better and faster decisions about your properties and deals. In short, this means you’ll have more time to focus on other aspects of your business and that next big transaction. 

So, which one is right for you?

That, my friends, is your call.

 

Do It To It! Immediate Action Steps

Simple Loan Calculator -- Click here to download the Simple Loan Calculator from Google.

Mortgage Mentor Calculator -- Click here to download the Mortgage Mentor Calculator from iTunes.

Financial Calculator -- Click to download the Financial Calculator from iTunesGoogle and Windows.

HP-12C Calculator -- Click here to download the HP-12C Calculator from Google.

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