Karl's Mortgage Calculator
August 13, 2024
More About Karl's Mortgage Calculator
See how the monthly payment changes when you factor in additional monthly or annual loan costs such as PMI, HOA, taxes and insurance.
The calculator supports Fixed and Adjustable Rate Mortgages (ARM) loans with up to five changes in interest rates. Interest-only mortgages loans are also supported.
You can pay off your mortgage early with extra payments. Add one-off, monthly and annual extra payments. Choose up to ten additional extra payment amounts and payment periods and the calculator will show how much money you can save on the loan.
Choose from weekly to annual loan payments and adjust the compounding period from daily through annual periods. The calculator supports Canadian mortgages along with UK annual rest mortgages.
Multiple rounding options on loan calculations are also available. Choose between no rounding, round half up, half down, to even, to ceiling and to floor.
The calculator also supports the input and display of multiple currencies.
Permissions:
- Internet access required for adverts and analytics
Latest Version
3.11
August 13, 2024
Dr Karl Jeacle
Finance
Android
2,161,498
Free
com.drcalculator.android.mortgage
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User Reviews
Adolphus Jefferies
5 years ago
I like this app. I am still going to give 5 stars but I wish that I could save different loans on the app without it clearing every time I enter different numbers. In other words, I would like to download the app twice with different numbers. GREAT APP! Update - Since the developer, too the time to teach me how to properly, the app, I have to give this app an honorary 6th star. Thanks!
A Google user
6 years ago
Best and easiest apps to use when I need to calculate the monthly instalment and show it to my clients. But recently I faced issue when I key in all the details it did not show me the monthly instalment amount. Have tried to uninstall and install the apps but still face the same issue. May I know where went wrong?
A Google user
6 years ago
Excellent App! Very rarely does an App deliver to such a high standard. The interface is functional, it won't win any awards, but it is really powerful. A real eye opener for financial planning. Highly, highly recommend
Maria “Helping Hands” Trost
2 years ago
Great app to see how much budget wise it would cost monthly bi-monthly or yearly with a complete amortization schedule. It's a great help to purchase a home or to pay it off or know where you are St it you want to pay it off sooner or not.
L J
2 years ago
Dr. KARL, In viewing the "pie chart" portion of the app ("Total Payments"), can you please revise this page to more accurately reflect the total interest paid vs. the principal amount owed? The interest % shown is a reflection of the total amount owed, which is not a reflection of the interest on the principal balance. (In other words, the APR is lower than what it should be and not higher.) Just a suggestion.
A Google user
6 years ago
Downloaders beware!! Soon after I downloaded this app, an unwanted opening screen started appearing, along with unwanted ads. I went through several procedures to try to remove unwanted screen and ads from my phone, to no avail. But the very moment after I uninstalled this app, the junk screen and ads were immediately gone. The day after I uninstalled this app, I got a Google notification that someone near Vietnam had been blocked from signing into my account with my password.
A Google user
7 years ago
It is a great app. Calculation entries might seem little none-intuitive first, as you need to check the radio button for what you want to calculate - typically your payment - and then your other unchecked radio button items are your input entries. Works great once you figure this out.
James V
3 years ago
The one and only amortization calculator you'll ever need! It is customizable in so many ways, it is the ideal calculator to find out how much money you'll save if you change your monthly premium payment! Thank you for a great app!
A Google user
6 years ago
Excellent!!! Use it for a mortgage or any other loan! Nice amortization schedule that allows for extra payments. Useful "sum" tab that shows how much principle/interest you pay throughout the life of the loan. Graphs are also helpful. Best app to calculate loans out there!!!
novak rogic
4 years ago
One of the rare finds in mobile app stores, well designed but not over designed, right to the point, full featured, no annoying ads, lots of ways to look at the data, everything is just perfect. I just wish Carl takes on compound interest (rrsp calculator) in a similar, excellent fashion.
A Google user
6 years ago
Makes calculating extra payments to see how it affects your interest/principal so easy. Super motivating to see what's possible. I also love that you can see the data represented in raw numbers, graphs, charts, etc, so you can digest the info however you prefer.
A Google user
6 years ago
Following recent update, when I reopen the app the interest rates that I have entered in the 'extra' section are rounded down to full numbers, I.e. there is nothing after the decimal point. This has an impact on the loan as it is then incorrect. I have to edit the interest rates every time if I want accurate figures.
A Google user
6 years ago
This calculator let's you figure out things that are impossible to do with most of the other mortgage calculators; i.e, I wanted to know how much of a monthly extra principal payment I needed to start paying next month (on a 30-yr mortgage that I had already been paying for 62 months) in order to pay the mortgage off by the time I reached 62 years old. I can do it with this app! Thanks!
A Google user
4 years ago
Been using this app for a number of years and would recommend it to anyone who has a mortgage. Easy to set up and manage. Love how it allows you to input different overpayments/interest rates which gives you a review of what your payment/interest paid/amount owed will be on a short and long term basis.
Randy Gault
3 years ago
Pretty good for initial mortgages, but not good after a few terms. It can't handle the combination of extra payments and interest rate changes. It can do either one separately, but if you have an extra payment at 6 months, and an interest reduction 6 months later, it ignores the extra payment, at least in the balance graph.
A Google user
6 years ago
Excellent lightweight (small), yet powerful app. Quite useful to project mortgage payments and loan payoff dates based on interest adjustments, extra payments, etc. Although I haven't experienced any issues with this app, a quick look at other reviews will tell you that the developer is very responsive to user feedback. Great work!
Google User
4 years ago
SMART INTELLIGENT APP I've downloaded and removed MANY mortgage apps. This is a clean easy to use app with all functions/variations in payments available. Went ahead and paid tho I didn't have to. All functions available in free version and add is not in the way. I want to support Good programming. HIGHLY RECOMMEND!!
Kathy Koch-Childress
3 years ago
Amazing App!!! I have a set amount that I save weekly due to the fact that I get paid weekly. On occasion I don't pay as much principal due to an unscheduled financial event. The app allows me to make that change and recalculates. The app goes above and beyond. I needed to play with the settings for a while, no instructions, to figure out how to enter the info I wanted. But I did figure it out and Love it! I'm now on a count down to having my house paid off!!!
A Google user
6 years ago
was 5 start until you removed the ability to choose the result suck as plunging in rate, term, payment to get loan amount, etc. I'm sure they feature was remove by accident. please bring the feature back and I'll raise my rating to 5 stars. UPDATE: Developer responded quickly with instructions for reverse calculations. Just what I needed. My favorite Mortgage calculator and upgraded to 5 Stars!
agatha allen
4 years ago
I love this app! It has everything I've been looking for in an amortization schedule. You can add extra payments (up to 50 1-time or adding extra to a group of payments) and immediately see the interest savings over the life of the loan. It calculates the payments given interest, loan amount, etc. The ads are unobtrusive at the bottom of the screen. I'm using a Samsung Galaxy S10.
