Mortgage Calculator

Launch Mortgage Calculator

Features

The calculator does the obvious - it determines an approximate monthly payment for a specified mortgage. However, it has some special features that make it unique amongst all the other calculators.

Amortization the visual way

Like any good calculator out there mine provides an amortization chart showing how each monthly payment is broken up. You can clearly see the pattern – principal payment increases, interest decreases, and PMI drops down after a couple of years.

AmortizationChartI also provide full amortization table, with a cute row preview showing a pie chart of payment distribution (for all the visual people out there), and a LTV progress bar.

AmortizationTable

Comparing multiple mortgages

The feature that I was missing most when I was buying a house is mortgage comparison. What’s better – higher APR with no PMI, or slightly lower APR with PMI? 15-year versus 30-year? So many factors! It’d be nice to visually see these differences. My mortgage calculator does just that!

First make sure you have multiple mortgages specified. Then click the “Compare” button next to the ones you wish to compare.

CompareHint 

You can see the how much each mortgage would cost you monthly,

CompareMonthlyCost 

and how much you will end up paying over the loans’ lifetime (broken up by payment type).

CompareTotalCost

Technology

My Mortgage Calculator is written in C# for Microsoft Silverlight 3 platform (Mac, Windows and soon Linux). It is a purely client-side solution and does not require any special server support. Of course I can end up extending it (so that users can save their mortgages on the server, generate PDF reports, and so on). But for now it lives on the client side.

White labeling

I did not spend much time playing with white labeling, but the calculator can be easily customized.

  • The logo can be replaced
  • The color palette can be adjusted
  • The “Contact us” button under mortgage summary can lead to a website
  • Theme can be changed

I also chose to start with a larger surface app, but the initial “edit mortgage” screen can be used as a stand-alone widget.

Launch Mortgage Calculator

Now you know about the main features of my calculator. I hope you enjoy using it and that it proves to be helpful.

Please let me know if you have any comments, questions, or concerns.

 

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See Mortgage Calculator in Action!