Overview

Mortgage Loan Calculator Plus is a free program featuring a collection of mortgage and general mathematics calculators. Program requirements: Windows 95/98/ME/NT/2000/XP. Mortgage Loan Calculator Plus contains NO spyware, no adware, or any other type of code designed to serve advertisements or track a users browsing habits. The application is instead supported by advertising on its hosting website mortgageloancalculating.com

Amortization Schedule

This feature allows you to create a customized amortization schedule for your mortgage loan. Enter the loan amount, interest rate, loan term, and finally press the "Calculate" button to create an amortization table. Optionally, by clicking the "More Options..." button you can specify the inclusion of additional payments, adjustable interest rates, and/or interest-only payments, etc.

Calculator Usage

Mortgage Loan Calculator Plus includes many built in calculators. Mortgage calculators include: debt-to-income, housing expense, loan-to-value, simple refinance cost recovery estimator, and interest-only mortgage.
Interest calculators include: simple interest, simple interest future value, simple interest present value, compound interest future value (annually), and compound interest during one year (future value).
Annuity calculators include: Ordinary annuity (present value), ordinary annuity (future value), annuity due (present value), annuity due (future value), perpetuity (present value).

The calculators listed above all work the same way. Data is entered into the "Data Entry Area," and then the "Calculate" button must be pressed to see the result. To access a calculator, select it by using the drop down menu at the top of the "Data Entry Area."

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"Basic Calculator +" Usage

"Basic Calculator +" can be used to perform any of the standard operations for which you would normally use a handheld calculator. "Basic Calculator +" can perform basic arithmetic, such as addition and subtraction.

To perform a simple calculation type in the first number of the calculation. Press the "+" button to add, the "-" to subtract, the "*" button to multiply, or the "/" button to divide. Lastly, press the "=" button to see the result.

Note: Your numeric keypad can be used to type numbers and operators by pressing the NUM LOCK button.

The main feature of the "Basic Calculator +" is the "Multi" button -- which is short for multi-function. This one button can perform several types of conversions and calculations. For a complete listing of conversions visit the calculator conversion options page.

Options:

The "Multi" function button allows the user to select which calculations and conversions will be available each time you press the "Multi" function button. Press the "Multi" button and then select "Options." The "Multi" function button options screen should appear. Check the boxes next to the options you would like available. Press "OK" in order to save the new settings.

Multi Step Operations:

Some operations performed by the "Multi" function button require that the user go through more than one step before the answer is displayed. For example, press the "Multi" function button, then select "Options" and check "Power of." Now press the "OK" button.

Let's say you wish to find the result of 2 to the power of 3 (which is 2x2x2=8). First, press the "2" button on the "Basic Calculator + ." Then press the "Multi" button and select "Power of." The words "2 to the power of" should appear in the "Visual" area at the top of the "Basic Calculator + ." Next, press the "3" button and finally press the "=" button to see the result.

The three percent calculations work the same way. For example, let's you wish to find out what 15% of 50 is. Press the "Multi" function button, select "Options," and the check the "Percent" box (this will only need to be done once). Next, type in the number 15. Press the "Multi" function button and select "...percent of a number is..." You should see "15% of..." in the "Visual" area of the "Basic Calculator + ." Next, type in the number 50 and press the "=" button. The result "15% of 50 is 7.5" should appear in the visual area.

Performing a Conversion:

The following will demonstrate how to perform a conversion by using an example:
In this example it is necessary to convert 12 feet to meters. Start by selecting the "Basic Calculator +" tab. Next, type in the number 12. Press the button which says, "Multi" to bring up the conversion options. Choose the "Length" menu option. From there select the "Feet to" option. Finally, select the "Meters" menu option to see the result of the calculation. You should see "12 feet equals 3.6576 meters" in the "Visual" display of the calculator.

Note: Exponent notation is not used for very small numbers.

Numbers Stored in Memory:

Memory storage is another option available via the "Multi" function button. By pressing the "Multi" button, selecting "Options," and then checking "Memory," you can make the memory storage option available each time you press the "Multi" function button.

To store the number currently displayed in memory, press the "Multi" button and select "Memory Set." To recall a number stored in memory, press the "Multi" button and select "Memory Recall." To clear the number stored in memory, press the "Multi" button and select "Memory Clear." To add the number currently displayed to the number stored in memory, press the "Multi" button and select "Memory Add to." To see the new number, press the "Multi" button and select "Memory Recall."

Note: When a number has been stored in memory, a check mark appears next to the "Memory Set" menu option. Also, moving the cursor over the "Memory Recall" menu option will cause the number stored in memory to be displayed.

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View Options

Select "Open Amortization Schedule in Browser" if you would prefer an .html based schedule.

To prevent the help text from being displayed -- which offers explanations and additional information for each calculator -- in the "Information Panel," select "View" from the program menu, and select "Show Help Text." When help text has been enabled a check mark will appear next to the "Show Help Text" option. No check mark will be visible when the "Show Help Text" option has been disabled.

To switch to "Calculator Mode," on the "View" program menu select "Calculator Mode." When this mode has been selected the size of Mortgage Loan Calculator Plus decreases, and the "Basic Calculator +" tab is selected automatically.

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Rounding

How a number is rounded can greatly effect the result of a calculation. For this reason, the user has been given precise control over how certain numbers are rounded. In the program menu select "Rounding" and then "Precision." Your rounding options will then appear in the menu. Rounding precision changes effect the amortization schedule creator and all of the built in calculators except and the "Basic Calculator +". For help with rounding precision options visit the calculator precision help section.

The Bankers Rounding option under the menu option "Rounding" and "Method" at this point only effects the amortization schedule. None of the calculators use bankers rounding as a rounding method. Future versions of this program may offer the option of bankers rounding as a rounding method for some or all of the built in calculators.

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Terms of Use

This application is free for you to use provided that you do not:
a) Distribute this application by any means without the consent of the owner(s) of mortgageloancalculating.com
b) Modify the application in any way.

This software has been prepared with great care, however, there are no guarantees that the results of calculations performed with this software will be accurate. Always seek the advice of qualified professionals before making any type of financial decision. This application is provided "as is" without any guarantees made regarding its suitability or fitness. As with any application, it may contain bugs, so use this application at your own risk. The author takes no responsibility for any damage that may unintentionally be caused by its use.


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