DETROIT — Home buyers have another tool to make getting a home easier with the launch of the Quicken Loans Mortgage Calculator app for Android and Apple iPhone, iPad, and iPod touch.

With the mortgage calculator app, the homebuyer driving by that $200,000 dream house can quickly learn if the monthly payment is affordable by using the calculator to plan their budget, check today’s mortgage rates, and figure out their loan term — all without calling their lender.

As mortgage rates continue to fall, homeowners looking to lower their monthly payment can determine if now is the right time to refinance.

The Quicken Loans Mortgage Calculator features:
* Four calculators – monthly payment, loan amount, interest rate, and loan term
* A comparison of loan calculations to determine what home loan option is best
* A “contact lender” button when the borrower is ready to move forward

A short video at this link demonstrates all the features borrowers can use to make sure they reach their financial goals.   The mobile calculator can be downloaded free at this link at the Apple App Store or at this link at the Android Market. It can also be found by searching “QL Mortgage Calculator.”

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