Launching Yet Another Mortgage Calculator
Recently I released something into the world it desperately needed - Yet Another Mortgage Calculator.
I'm kidding of course, there are about a million mortgage calculators on the internet. Truth be told, I made a Mortgage Calculator as part of a bigger app I'm working on and thought it'd be nice to release it as a stand-alone app that maybe somebody would find useful.
The Problem with Mortgage Calculators
I also saw an opportunity. Most of the mortgage calculators out there are just plain ugly, don't offer many features, or are simply inaccurate. Additionally, mortgages are confusing, especially if it's your first one. Yet Another Mortgage Calculator aims to help you along the way and makes suggestions that can help save you money.
The True Cost of a Mortgage
The calculator does it's best to try and calculate the true costs of a mortgage. It will assign typical values for closing costs (that you can adjust) and as well calculate insurance costs (if required). It will also estimate when you'll be done paying for that insurance.
Demystifying Mortgage Types
Along with the calculator is a very detailed article on the different types of mortgages and which one would best fit your needs. I aimed to break down each mortgage type in an easy-to-read format that just about anyone can understand.
What are the different mortgage loan types?
To-do
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Refinance Mode
Currently the calculator is just for new loans, it'd be cool if you could enter in an existing mortgage and have the calculator walk you through a refinance with a new interest rate. What would the costs be? How much could you save over time? What would your new monthly payment look like?
Go test it
If you have a mortgage I'd love for you to go enter your mortgage details into the calculator. Let me know how accurate it is!
Yet Another Mortgage Calculator