Visual Byte Inc., the makers of one of the first and most popular mortgage calculators for the Pocket PC, announced today the release of Mortgage SIM 2.0 for the Windows Mobile Smartphone.
Version 2.0 of Mortgage SIM introduces a number of new and powerful features that allow users to compare mortgage and loan scenarios that are typically hard to compare. Through the use of “Timeline” amortization tables, this application makes it possible to quickly analyse the impact of changes in rates on variable rate mortgages as well as explore the effects of things like making recurring lump sum payments or accelerating your payment frequency to weekly from monthly.
Providing mobile professionals, like real-estate agents and mortgage brokers, this kind of powerful tool and functionality, will allow them to supply their clients with personal financial advice whenever and wherever they need it.
Homebuyers will also be able to use their mobile phone to compare and understand mortgage options while on the go, in the bank, at the lawyers, or while walking through the new house they are thinking of buying.
lump sum or balloon payments
repeating lump sum payments
variable rate mortgage comparisons
refinancing or payment adjustments
configurable and custom comparison scenarios
greater variety of payment frequencies:
rounding up of payments to nearest cent, nickel, dime or dollar
calculation of any one of the four base mortgage variables from the other three