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Mortgage iBacus - Mortgage Calculator App
PragNotion Software currently offers its first
app, a free mortgage calculator app for the BlackBerry smartphone.
This is the first app in its Mortgage iBacus brand of mortgage
calculator product line, to
assist you in your home financing decisions. Later, a
full version
will be available will many more features. The first app release
will run on the BlackBerry smartphone.
The iPhone version will be available later.
This is a free mortgage calculator app for the BlackBerry smartphone, used to compute the monthly mortgage payment for 15-year or 30-year fix rate mortgages, given the interest rate and loan amount (principal). Designed for tentative home buyers who are just looking or testing the real estate market, this product is available free as a trial version. The trial version app has limited functionality, but the trial time duration is unlimited. Take a preview with these screen shots. To install this free trial version on your BlackBerry smart phone, click here.
Designed for the serious home buyer and current homeowners who are contemplating re-financing, this BlackBerry application provides much more functionality over the free trial version. Mortgage iBacus Full Version will include the trial version functionality:
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Mortgage payment calculator: for a given interest rate and loan duration (15-year, 30-year), compute the monthly mortgage payment, with breakouts for the interest portion and principal payment.
and include these additional features:
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Additional mortgage terms: for fix-rate 5-year, 10-year, 15-year (included in trial version), 20-year, 25-year, 30-year (included in trial version), and 40-year mortgages.
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Additional mortgage types: for adjustable rate mortgages (ARMs) and interest-only mortgages.
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"How much house can I afford?" analysis: Home buyers can input the household gross income, prevailing interest rates for various fix-rate mortgages, loan durations (15-year, 30-year), and desired down payment, and Mortgage iBacus will compute how much house you can afford.
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Mortgage payment analysis: for a particular mortgage, Mortgage iBacus can product a report month-by-month how much of the monthly payment is going towards interest payments and paying down the principal (amortization table). For each calendar year, it can report or project the total amount of mortgage interest deduction you can claim on your Federal income tax return. These reports will be exportable.
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Early payment analysis: If homeowners wanting to pay off their mortgages early, Mortgage iBacus will compute the the accelerated amortization of your mortgage and let you know when your mortgage is projected to be paid off. Mortgage iBacus supports one-time or regular monthly additional principal payments.
This application is expected to released in February 2011. Retail price is to be determined.
Site updated
11.14.2010
Mortgage iBacus,
a free BlackBerry
mortgage calculator app:
> Overview
> FAQs
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