Karl's Mortgage Calculator doesn't deliver anything new to the typical mortgage calculators found on many websites. What it does do however is provide a convenient and sleek mobile version of those calculators which can easily enter and process information on the fly. Not only can the program process information, it can also display that information in a variety of forms. For example the screenshot below shows a graph of payments vs. balance at the users current payment rates and remaining balance plus interest rate:
Aside from the graphing function this Google Android App can also display payment information in a simple to follow text form. In the most basic state users will see the amount of their mortgage, the interest rate on that mortgage and their monthly payment amounts. Below that section the start date and end date can be displayed along with a section for 'extra payments" and the time those payments will save. Thanks to the easy display it's simple to quickly find out how much you can save and your early payoff times.
Karl's Mortgage Calculator also provides a simple amortization table that shows you how much you are paying in principle versus interest on a month by month level through the ending time of your mortgagel. As you make extra payments and reduce your principle amount the table can show you the proper adjustments to your loan.
Finally the program also includes Canadian Amortization methods and interest only loans if you happen to need either of those options.
Karl's Mortgage Calculator is simple to use thanks to easy to read text and graph layout functions. It also offers simple tables and other options that can be accessed easily using the large tabs at the top of the program as shown in each of the screenshots provided above. If you want to check your current rates with advanced payment options or you're about to visit with a mortgage broker about a new mortgage this is a must have application. Really you have nothing to lose since Dr. Calculator is proving this Google Android Application for free.