One of the most significant debts that you can have is your mortgage. It can be daunting to look at how much you still owe and figure out ways to decrease that balance without going bankrupt and losing everything you have worked so hard for. Luckily, there is a way that you can get some help to figure out a plan of action without having to hire a professional.
Numerous apps can be downloaded onto your mobile device that are designed to help you monitor, control, and pay off your mortgage. Let’s take a quick look at some of the best Android mortgage apps that help pay off your balance faster so you can get out from under that tremendous amount of debt.
- Karl’s Mortgage Calculator – This is arguably the most popular mortgage app used. You can create different scenarios to see what extra payments will do for you. If that is too much work, you can reverse the way you look at the loan to see what you need to do to pay the loan down by a specific date. The best part is that this mobile app is free to download and use.
- Mortgage – This is another free app that works great. You can input all the details of the loan and see what adjusting the frequency of payments can do for you. You can also play around with extra payments to see their impact on your mortgage loan.
- You Need A Budget (YNAB) – This app is a little different than the ones already discussed. You will need to use a quick mortgage calculator with this app because it will not calculate the impact of extra payments. However, once you visualize what you will be paying, you can plug the numbers in and see the big picture. Plus, this app can connect to your bank accounts. It has a free trial period, but if you like the app, it will cost you a little cash.
- Mortgage Payoff Track – This is another free app that can help you visualize what extra payments will do for you and what a change in the interest rates can do. You can import a spreadsheet if you have been using one already, and the app will give you the information in a bar graph or a pie chart, whichever you prefer.
- Easy Mortgage Calculator – This is one of the easiest apps to use because all you have to do is input your information. It will show you what you will end up paying over the length of the loan. Plus, you can add one extra payment at a time to see how it will affect your mortgage. It is free to download and use, so it is a great way to get the basics.
These are the best 5 Android apps to use when you want help paying off your loan faster. They are great tools to have, and since most of them are free to use, they will not cost you anything but time. The benefit of using them is that it shows you short-term and long-term information that can help you decide what move you need to make next.
These tools can be invaluable if you are in the process of getting a mortgage loan or considering a refinance option. They can show you what will happen in the long term if you go ahead with your plans, even if you are not 100% sure of the terms they will offer you. If you can look ahead into the future a bit and see what the loan will cost you in the end, you are better off than if you just take your best guess and go ahead with the application. Plus, they can help you manage and pay off your current loans so you can finally get out of mortgage debt.