This unique application provides the operator with full and accurate calculations of FIXED RATE MORTGAGE. The operator inputs annual interest rate, period of the loan in years (up to 60 years) and the value of her/his loan. The application clarifies the information and the payment period then calculates the monthly payment over the years of the loan, the total amount of the loan (including interest), the sum of 12 payments (one year), and finally the total interest paid.
The currency of the amount can be any currency of any country of the world.
The application serves those who are seeking financing their new homes our thinking of getting a mortgage loan. The formula used in calculation is the formula used by the banks. So this app saves you contacting the bank ... and concludes the calculations for you within seconds.