A home is often one of the biggest purchases you will ever make, so it goes without saying that buying a home can be a really stressful undertaking. That's why it's important to go into it fully prepared. Mortgage+Care Loan Calculator offers just the right amount of tools to help you calculate your monthly payments for mortgages and other major purchases.
This program's user interface is as basic as it gets. A small window that acts as the main menu appears with different calculation tools: Payment Calculator, Amortization Schedule (it's misspelled on the menu; a pet peeve), APR Calculator, a Should We Make This Loan? feature, and a Days Between Dates calculator. Mortgage+Care Loan Calculator doesn't have a Help feature, a big minus for anyone new to the world of buying a home. We started by selecting the Payment Calculator option, which introduced another small window. Fields for loan amount, interest rate, and term in months are left blank for you to enter the appropriate numbers. An Options menu lets you compute the amortized payment, interest-only payment, the loan term, and the interest rate. By entering our loan amount, interest rate info, and term of the loan, we were able to calculate our amortized payment. We played around with the different settings to calculate how much house we could afford with different interest rates, as well as how much house we could get with payments that were in our budget comfort zone. Overall, we found the program to be a simple and useful tool for anyone looking to stay informed on a big purchase.
Mortgage+Care Loan Calculator installs desktop icons without permission, but it uninstalls cleanly. We recommend it for all users.