Easy Loan Payoff Calculator

This app has been so useful: 1. When I was trying to sell my house last year and people wanted to do contract for deed and I needed an easy way to figure what the monthly payments would be for whatever I was trying to sell my house. 2. When I want to do "what if" situations about a home equity loan against my house and see from various amounts I am considering borrowing, what my monthly repayment amount would be. 3. When my wife loans me a sum of money to help me pay something, how many months I need to knock off of her (share of the bills) $500 monthly payments to pay her back. It is so super to be able to play with different loan amounts, interest rates, and length of time to repay scenarios to compare the various monthly payments on what works best for me. Hope this review helps. 😉

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OK, calculating interest is simple. So why am I still sitting here after 10 minutes trying to figure out this program? People want to buy a program like this in order to make simple calculations about paying off a loan. I'd like to be able to input my data and then run about 10 different solutions to figure out what would work for me in paying off a loan. If this does this I sure can't figure it out after 10 minutes because it is not idiot proof or it does not do that. In either case if a software program takes more time for me to figure out than buying another software program then it is poorly designed. This package is poorly designed.

I love this app and it’s others in the suite. I do wish the “What if” app had a one time lump sum payment option. I’m often have a one time windfall of cash and want to put a lump sum on a loan. I’ll take it the way it is, but that would be a great feature. (Windfall from inheritance, sale of another property, job bonus, sale of another asset is more common in my finances)

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I got this app because I’m trying to keep track of a personal loan I got for my house. I wasn’t able to get a traditional mortgage and needed to finance the rest of what I owed for my house and land. However, this app only shows you what the payments will be and how much interest you will pay each month. It doesn’t allow me to make extra payments and watch what changes. I was very disappointed that I paid my hard earned money for this app.

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I've been using the free version for a few years--it's a great, handy app. I decided to purchase this one because I wanted to calculate how many months would be knocked off my loan if I apply my tax refund towards the principle. I'm very disappointed that the only two "what if" scenarios are adding a payment each month or adding an annual payment. I'll gladly change my review to 5 stars if the developers add a "one time payment" scenario.