Amortization What-If by MyGadgets2 (iPad)
Released: Nov 10, 2010
Version: 2.1
Size: 366 KB
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Ranking - Finance (iPad)

Amortization What-If

Dynamic amortization analysis for your home loan payments. You can dynamically perform a "what-if" analysis by making one or more extra payments or change your monthly payments one or more times and see how much interest and time reduction you will save.

Do you want to find out how much money and time you can save by making bi-weekly payments instead of the regular monthly payments?

Do you want to find out how much money and time you can save over the life of your loan by just putting an extra $50 into each monthly payment?

This amortization app is more powerful than most others because you can change your monthly payments or make extra payments more than once at different times during the life of your loan. Other apps only allow you to specify it once and only at the very beginning of the loan.

- Full detailed amortization table
- Down payment option in $ or percentage
- Dynamically ADD one or more EXTRA PAYMENTS
- Dynamically CHANGE one or more MONTHLY PAYMENTS
- BI-WEEKLY payment option
- Optional ESCROW start date to show the current remaining principle balance
- Calculates not only your monthly payment but also HOW MUCH INTEREST and TIME YOU CAN SAVE over the life of your loan when you make extra payments or increase your monthly payments
- Automatically saves your data so that the app opens with the same data from where you left off

- Tap on any month row in the table to add an extra payment or change the monthly payment starting at that month. A new line will be added to show this new or changed payment.
- Tap on a new monthly payment or extra payment row to delete it.

What's new in version 2.1
Will automatically saves and restores all of your data
Changed maximum number of years for a loan to 40.
Our verdict: Ok
  • Amortization What-If is a poorly rated app (2.5-star).
  • + The app is currently free, instead of its regular price of $0.99.
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