My Own Loan allows you to calculate the installments of your loan or your mortgage. From a few basic data (amount, duration and rate), calculate the so-called amortization schedule - or the distribution of all the installments in time - detailing composition of each installment (breakdown between interest and capital).
Top 20 Finance app in the App Store!
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Most of the features of this application is the result of your requests and your advice. Vote My Own Loan and you know what you think!
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It's essencially a simple application to calculate the ideal mortgage for your new home, or financing for your ideal object of desire (a car, a new HDTV, computer, etc). The plans that My Own Loan calculates, in fact, apply to both mortgages or simple loans: My Own Loan is very flexible in this!
The possibility of performing calculations for both fixed (fixed rate + spread, or IRS) and for variable rates (ECB rate / Euribor + spread) is used to analyze each case study. Euribor rates, IRS and the ECB can be updated online (or when the application boots) to be always aligned with the current rates, or they can be updated by hand. Once you save a sample calculation for a mortgage, it will be easy to follow the variations of the installment at varying rates, day after day: it;s just a tap away!
* Calculations:
Gives the ability to calculate easily the installment and the amortization schedule for your mortgage.
* Saving:
See all the calculations previously saved. Allows you to create new ones, or to remove those already saved. Just tap on a saved loan to see new installments of the amount and detail of the plan.
With a few clicks, typing the amount of capital invested, the duration of the loan, and
annual rate for a list of detail of each installment.
You can see how much you're paying, month after month, principal and interest, in a
sorted table with all the details at hand.
My Own Loan is under constant development. Your voice is what counts, and all your advices are orders! Whether you like My Own Loan or not, please let us know!
