MPG-Calculator

Introducing MPG-Calculator, the must-have app for anyone looking to calculate their mortgage loan and stay on top of their financial planning. With an easy-to-use interface, you can effortlessly calculate your monthly instalment, making it a breeze to budget for your dream home. Not only that, this ingenious app also offers Debt Service Ratio (DSR) calculations, giving you a clear picture of your financial health before making any loan submissions.

Features of MPG-Calculator:

* Easy and Convenient Mortgage Loan Calculation: With this app, you can easily and conveniently calculate the monthly installment for your mortgage loan. This will help you understand the financial commitment you will be making and plan your budget accordingly.

* Amortization Schedule Display: The app also provides an amortization schedule which shows the breakdown of each monthly payment, indicating how much goes towards the principal and how much towards the interest. This allows you to see the progress of your loan repayment and plan your finances accordingly.

* Debt Service Ratio Calculation: The app also offers a Debt Service Ratio (DSR) calculator, which helps you determine if you have sufficient income to cover your monthly loan payments. This is a crucial step before submitting your loan application.

* Extra Payment Calculation: Additionally, the app allows you to calculate the impact of making extra payments towards your mortgage. By making extra payments, you can save on interest and potentially pay off your loan earlier. This feature helps you understand the potential savings and make informed decisions about your finances.

FAQs:

* How accurate are the calculations provided by the app?

The calculations provided by the app are based on the information you input. As long as the input is accurate, the calculations should be reliable. However, please note that the app provides estimates and should be used as a guide, rather than an exact figure.

* Can I use the app for calculating other types of loans?

While the app is primarily designed for mortgage loan calculations, you can use it for other types of loans as well. Simply input the required information, such as loan amount, interest rate, and term, and the app will provide you with the necessary calculations.

* Can I save the calculations for future reference?

Yes, the app allows you to save the calculations for future reference. This is particularly useful if you have multiple loan scenarios that you would like to compare or if you want to track the progress of your loan over time.

Conclusion:

MPG-Calculator's easy-to-use interface, comprehensive calculations, and additional features like DSR calculation and extra payment calculation make it a must-have for anyone considering a mortgage loan. By using this app, you can gain a clear understanding of your loan repayment plan, make informed financial decisions, and potentially save on interest payments. Don't miss out on this powerful resource - download the app now!