HomeZada pulls your mortgage data automatically and builds an amortization schedule showing principal, interest, and balance over time. Edit rates and recalculate instantly. A what-if calculator shows how extra payments like $200 monthly cut your payoff date and interest costs.
There are a lot of short and long-term financial aspects of your mortgage that you should stay on top of. Homes Auto will retrieve the basics of your mortgage and run a full calculation of the entire amortization schedule. You can see the chart on the left is showing you your monthly payment and showing you what portion is going to principal interest, and the chart on the right is showing you what your remaining balance is. These 2 charts will change every month as you continue to pay off your loan. As you scroll down the page, you can start to see some of the loan details. If you need to make any edits, all you have to do is click into the field, change the interest rate, and hit Calculate Loan. Below that, you can see what the total cost of the loan is in terms of the total number of payments and where you are in the current loan schedule. Below that is a chart that's showing you what the remaining balance is over the next 30 years and how that kind of continues to shrink down over time. And if you're interested, you can look at the entire amortization schedule. showing you every month what portion of the payments is going to principal and interest, and where are you on the running total. Now if you scroll up to the top, there's also this button here called the What-If Calculator. Oftentimes you may want to see if you come in here and you say, what if I added $200 a month to my monthly payments? You click off that, and now you can see below that it's going to automatically calculate that you've got less payments and your new payoff date is December of 2037. You'll save 3 years and 2 months. And you will save $36,000 in interest. If you scroll up to the top, HomeZada also has the ability to track multiple loans. Many people will get out a second loan or take out a home equity loan. Same concept, all you have to do is key in the information and we'll calculate all of your loan payments. And last but not least, you can track all of your mortgage and loan documents for safekeeping purposes. So hopefully you can see how important it is to track all the short and long-term details of your mortgage. Thanks.
