Mortgage Payoff Track makes it easy to see with the swipe of a finger how much money you owe on your mortgage, how an extra payment will affect payoff deadlines, and more. Considering how complicated mortgage math can get, this is a very useful tool and one that is handy to have on hand whenever you do your taxes, review your budget, or analyze your investment or moving options.
While your mortgage lender almost certainly sends you a detailed statement on a regular basis, it's not always complete. Digging up information like how much interest you've paid, the total value of your house in equity, and the payoff time based on changing your payment size is not always easy. Mortgage Payoff Track doesn't go much deeper than providing the charts and tables needed to visualize your mortgage, but it does this very well, showing how your mortgage payments will change over time and when the value of the home will change most over the course of its maturity.
If you have a mortgage or are considering buying a house, Mortgage Payoff Track is a useful tool. Combined with a useful collection of visualization tools, the app becomes a powerful mathematics tool for your mortgage shopping and future financial planning.
From Yutaka Onizuka:
If you are a homeowner who wants to monitor your additional payments in your fixed rate mortgage (and see how you are handsomely rewarded by your good behavior), this may be just the app for you. This app lets you keep track of your additional principal amount at any point of your payments. By continuously monitoring the progress, you can better plan your payoff schedule that fits your familys lifestyle while reducing the risk of stretching it too much for a rainy day.Use it as a simple loan amortization calculator, test different interest rates, as a simulator for your future plan, or, what it is the best at, a tracker of your pay down over the life of your loans. You can enter and keep track of different additional principal amounts for any of your payment throughout the life of your mortgage. You can visualize your paydown progress and the interest savings in multiple graphs. You can import/export your loan data and payments easily between iPhone, iPad, and other devices. Use various methods including AirDrop, email attachment, or many other cloud services.