An absolute must for realtors, loan officers, or car, pool, or luxury item salespeople!
Simply enter a principal into the "principal" box (tap on the "Principal amount" box, then use the on screen number pad), then use the sliders to adjust the interest rate, term length, and even the principal amount.
The monthly payment adjusts as you move the sliders!
Also great if you are buying!
Instantly converts any loan to its simple interest equivalent, so you can instantly see the lender's profit!
Any loan that is determined to be equivalent to a simple interest loan of more than 25% causes the lender's profit to be highlighted in red, to warn you of the predatory lending potential, and to show you exactly how much money the lender is earning from you!
Easily compare loans of 15, 20, or 30 year terms, simply by sliding the "years" slider!
Easily compare monthly payments at 4% versus 5.5% in seconds by simply moving the "interest" sliders! (One "interest" slider adjusts the integer portion of the interest rate, while the other "interest" slider adjusts the decimal portion of the annual interest rate.
Easily see if you should get the 6 year loan at 8%, or the 5 year loan at 7.5%?
Easily determine if an extra 5000 down would get the monthly payment below 450.
It takes longer to find the credit card advertisement's APR in the fine print than to slide the "interest" sliders way up to 25.99% and realize how much money they make from you!
It only takes seconds to know if the customer can afford it!
It only takes seconds to know if YOU can afford it!
It only takes seconds to adjust the sliders and get the monthly payment for any loan!
And it only takes seconds to know if the loan is worth it!
Please try "Fast Amortization Calculator." I know you'll love it!