AprCalc

AprCalc, developed by Definitive Solutions, Inc., is the latest version (4.0.1.14) of an advanced mortgage amortization tool that falls under the Office Tools category and specifically, the Calculators subcategory. This version continues to enhance and refine its extensive range of features, making it a fantastic choice for financial professionals and home buyers.

One of the standout features of AprCalc is its ability to perform a variety of mortgage calculations. Users can enter any three figures—the amount financed, payment term, interest rate, or payment amount—and the program will compute the fourth figure. This helps in simplifying complex financial decisions related to fixed, variable, Canadian, biweekly, and other types of mortgages. Additionally, the program supports different compounding intervals like daily, weekly, bi-weekly, half-monthly, four-weekly, bi-monthly, quarterly, semi-annually, or annually.

In terms of customization, AprCalc allows users to generate professional quality printouts and customize the program with their own logo and text. The program can save scenarios in files and password protect them, offering both security and convenience. Users can also attach rich text notes to any scenario for future reference and compare multiple loans side-by-side.

Users can benefit from various prepayment options to understand the effects on their payments, calculate the necessary amount to shorten the term, and even determine break-even dates for discount points on mortgage loans. The program boasts advanced features such as animated 3D graphs, payment grids (rate vs. principal), wizards for step-by-step guidance, and tooltips for formats and examples.

AprCalc supports infinite undo/redo, auto-save, and advanced logging for detailed debugging. It’s also noteworthy that the tool has been supported continuously by the same author since 1993, ensuring high reliability and frequent updates.

For those looking to download a free mortgage amortization tool, AprCalc is highly recommended. It's also equipped with features like automatic version checking and seamless export to Excel (XLS) or comma-separated (CSV) files for further data manipulation.

Pros:

• Comprehensive mortgage calculation features
• Professional quality printouts with customizable elements
• Strong security with password protection
• Ability to compare multiple loans side-by-side
• User-friendly guidance through wizards and tooltips

Cons:

• Limited OS support (only Windows 7)
• Advanced features may have a learning curve for new users

You may want to check out more software, such as 1-Calc, A-Converter or RealData® Real Estate Calculator, which might be similar to AprCalc.