Financial calculations software house releases Free Mortgage Calculator, an application designed to help people fully understand the implications of any mortgage arrangement.

New York, NY -- (SBWire) -- 07/22/2013 --For the majority of people, a mortgage will be the biggest responsibility that they ever take on. After all, a house is likely to be the most expensive thing they ever buy. It’s important to not enter into a mortgage lightly and without a full understanding of the responsibilities necessary. However, few people have the financial literacy to make that decision without careful calculation and analysis.

One piece of mortgage related software that is getting a lot of attention at the moment is Free Mortgage Calculator, an innovative new software application that helps people comprehend the financial implications of a mortgage. This intuitive piece of software quickly calculates mortgage repayments based on user inputted parameters. Since release it has helped thousands of people fully understand their potential mortgage arrangements.

Mortgages are complicated, but Free Mortgage Calculator is an incredibly simple piece of software, at least from the user’s perspective. All the user has to do is enter the details of the mortgage arrangement they wish to analyze, and the software will instantly do a series of calculations and then present the user with information about the arrangement.

It tells users exactly how much they will repay, the size of their monthly payment, the total amount of interest paid, the final pay off date of the mortgage and many other pieces of vital and informative information. It also presents the user with a useful comparison of bi-weekly vs. monthly repayment, helping them quickly decide which is the best option for them.

A spokesperson for the software said: “For most people, mortgages are a confusing arrangement. Unless you’re an accountant or a mortgage broker yourself, you’re unlikely to have the depth of understanding required to get yourself the best possible deal. Our mortgage payment calculator puts that power into the hands of everyone. It does a series of complicated calculations to present the user with a comprehensive amount of information about any mortgage arrangement they plan to enter into. It gives the user a vital advantage in any mortgage negotiations, and ultimately will help them avoid any unfavorable arrangements.”

About Free Payment Calculators
Free Payment Calculators is a software house that creates payment calculators that demystify the world of finance for consumers. They help people fully understand the financial arrangements that they enter into, whether it’s a loan, a mortgage, or a car loan.

For more information please visit: http://Download.Cnet.com/Mortgage-Payment-Calculator/3000-20417_4-75937147.html