Home Finance Professional Finance App Review (iOS, $9.99)

 

Languages: English

Seller: Business Compass LLC

Retained control from social network links within the app

FinancePaidIOS

Description

Home Finance Professional is the comprehensive home finance application.

Pretty graphs and charts.

E-mail amortization summary and schedule as pdf attachment as well as print them as table with header, footer, page number.

Key Features:

1. Affordability
2. Amortization
3. APR
4. Balloon Payment
5. Comparison
6. Cost
7. Duration
8. Qualification
9. What-if Analysis
10. Amortization input data is saved
11. Pie chart of interest vs. principle is displayed
12. Area graph of cumulative balances is displayed
13. Bar graph of monthly loan payment is displayed
14. Bar graph comparing total interest and total payment is presented


Detail:

1. Affordability - How big property can the consumer afford based on income and debt obligations?

a. Input
Annual income
Monthly required debt payment
Cash available for down payment
Property Tax rate as %
Home insurance as %
Interest rate %
Loan term in years
PITI Debt Ratio - principle + interest + property tax + insurance
Total Debt Ratio - PITI + Monthly debt payment

b. Summary

Property value/loan amount
PMI

2. Amortization - Amortizes mortgage loan

Input:
Purchase PRice
Down payment as % or actual $ amount
Closing Cost
Annual Home insurance
Annual Home Owner Association Fee
Annual property tax
Loan term in number of years
Interest rate %
Payments/year - by default 12/year
Optional extra payment - to pay down principle

Summary-

Monthly payment
Total interest paid
Total payments
Reduction in payment term
Amount paid in early payments
Total savings

Detail:

Beginning balance, principle paid, interest paid, cumulative principle paid, cumulative interest paid and ending principle balance per period group by year

3. APR - Calculates APR from loan amount, loan term (years), stated interest rate % and closing cost

4. Balloon Payment - If loan were to be paid early, balloon payment calculates remaining principle to be paid

5. Comparison - Supply one or more mortgage loan data and this app will provide summary for each loan like amortization

6. Cost - Closing cost of the loan calculated from loan amount, loan term, stated interest rate and APR

7. Duration - Calculates the loan duration if additional payment is made every period or if payment is made more frequently

8. Qualification - How much of loan is required to purchase a property of give value

9. What-if Analysis - Calculates one of the 4 variable - principle, term, interest and payment when 3 variables are supplied

Screenshots

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