The calculation and payment of a mortgage is something that worries and overwhelms many people so they must always be making calculations to know the exact amount of money they must pay each month to pay off their debt.
The Mortgages and Loans mobile application helps you calculate your debts accurately and reliably. You will no longer have to do large calculations or deal with numbers, with this application you will do your operations quickly and without difficulties.
With this application you can easily know the balance of your debt and make a payment plan so as not to delay in your loan or mortgage.
Why is simulation of a mortgage loan important?
Calculating the price of mortgage or loans will allow you to make a simple comparison of the conditions of both.
But apart from using a calculator, you can also consult in advance the conditions of the mortgage and loan offers to verify if they are viable or not.
Aspects that are not considered in a fee calculator
Mortgage calculators are very useful, however, they only consider those aspects that directly affect the total price of the mortgage or loan. There are other characteristics that cannot be considered because they are variables, which are:
Commission for contract modification
They are the commissions that can be charged if the money is returned in advance by early repayment or withdrawal, if the contract with the bank is modified by means of a pact (novation) or if the bank is changed (subrogation).
Possible increase in price of related products
The price of some products associated with the loan or mortgage, such as services, may change from year to year. That is why the calculator cannot take it into account, it only shows how much we should pay if these linked services kept their price for a whole period of time.
The Mortgages and Loans mobile application
The Mortgages and Loans application allows you to check the monthly payment of loans and mortgages on your mobile devices in a simple and comfortable way. The application has the following sections:
- Purchase price.
- Initial payment.
- Monthly fee.
All these sections allow you to place the initial or purchase amounts of money for mortgages or for loans, be they car, student, personal or other. The total capital that will be requested for any loan can also be included in them.
With all the required data placed in the corresponding box, the application will proceed to calculate the loan to the mortgage, obtaining the value of the monthly payment that you must make to pay off your debt.
If your mortgage or loan interest decreases or increases over time, you can recalculate your debt with the new interest.
This application can be used for any kind of loan and mortgage, including refinancing; just adding the necessary values, the calculation will be carried out easily.
An example of a possible use of Mortgages and Loans is student loan refinancing. In Initial Payment, the amount of the loan that has already been paid is placed, the Purchase Price is increased and the Years in which it will be extended, in this way the new payment per month will be obtained.
This can also be done for refinancing a loan with a home equity or mortgage.
The Mortgage and Loan application can also be effective for a small business loan, to make the calculations for the prior approval of a mortgage, in short, for any type of calculation regarding mortgages and loans that you need to do in a simple and easy way. safe.