If you’re in the market for a new house then the first thing you’ll want to figure out is what your mortgage payment on your dream home is going to be. While there are many web based mortgage calculators that you can use to work out your monthly payment, most of them don’t give the full picture because they don’t account for everything that could be included in a mortgage. This is where the Mortgage Loan Calculator from MLCALC.COM comes in.
Unlike other web based calculators, the MLCALC.COM calculator include property tax, insurance and private mortgage insurance into its calculation. This gives you a more accurate picture of the true mortgage position. It also have a really cool Web 2.0 look thanks to its colorful AJAX powered graphs. MLCALC.COM order this review to generate buzz and get feedback on their creation. Give it a try and let them know what you think.
The Mortgage Loan Calculator is extremely easy to use. Simply enter the numbers in the corresponding field and hit the calculate button. The information the calculator provides is the most complete I’ve ever seen for a web based product. It will give you a very clear picture on how much everything is going to cost you. in addition to calculating mortgages, the Mortgage Loan Calculator can calculate regular loans as well.
Mortgage and Loan Calculators Widget
Should you wish to add the Mortgage Loan Calculator to your blog, MLCALC.COM offers a cool little widget to do just that. If you run a finance blog, then this is a cool tool to add for your readers to use. You can customize the widget to match it to your site.
How Does This Thing Make Money?
At the moment, the Mortgage Loan Calculator doesn’t make any money. There are no advertisings of any kind on the site and no affiliate deals come up when the calculations are displayed.
It’s quite clear that MLCALC.COM is trying to build up its user base first before attempting any kind of monetization. That’s always a good move in my book. Too many people trying to make money on the Net wants to make the money yesterday. What they don’t realize is any new venture takes time to build (this blog made nothing during its first eight months). MLCALC.COM is going about it the right way by releasing their product to get feedback first. The money will come later.
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(10 votes, average: 3.8 out of 5)
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I like the graphics, seems like a pretty cool tool although nothing ‘revolutionary’
I stumbled this tool few days ago. It looked nice. I have always used the HPW mortgage calc, because it was simple and straight forward. I like how this one gave the ammortirization table, but was not completely sold on it. I will have to give it another spin.
Not having the property tax and insurance as a moving percent is hard to work with this calc, but that is just me. If they could assume ip location and present the current tax rate that would be good
It should cover me and when I was looking out of market I would be able to change the tax rate, not dollar amount (which is an easier thing to punch in, you don’t want to have to calculate for the calculator).
Yes, the graphics is really attractive for this company but I’m curious John how much this company pay you for this review hahaha.
I assume the going rate…
The going rate…$500/review.
sounds interesting,
but raw material costs increases in the mean time anyways,
so you will always find out of money at the end of building house
I wish I understood that comment! It’s a nice tool.. I like the way the Ajax renders the results without taking you away from the blog. Very 2.0.
Interesting to insert in blog Finance.
Hey..the Cow in the other side is on Moo Tube (Live). Perhaps John Chow should have his Chow Tube also.
This is a great site for those who wants to mortgage loans.
For everyone else there is cash…
This is an excellent tool. Being a homeowner myself, I can attest to how difficult it is to figure out what your insurance and tax payments will be.
Thanks John. I will have give this one a try on my alabamasmortgage.com page.
Now if someone can come up with a calculator that figures out how to get your money back out of a house you own in Michigan!
Do you mean home equity loans?
That’s a pretty neat tool, very nice looking! Too many people don’t understand the costs associated with buying a home. Last week I had somebody bring one of my coworkers their property tax bill and ask if it was paid for as part of the mortgage.
That is because most banks offer that service, and most of them by default implement that service on each mortgage. Quite honestly, it makes the homeowners’ lives easier having to deal with one less bill, and the interest lost on the pre-payments to these property tax escrows is quite low.
looks pretty good for homeowners, but you probably could just do this in excel yourself.
Yes but its easier to use that tool and thats why people will probably start to use it.
hi,jhon chow sir its urs site well maintain and daily update new information.nice site lot of info on it ,The colors are good. It is very easy to navigate in.. well done sir…
Normal things when added some cool features become more usefull and polular. I think that MLCALC guys done a good job.
Good tool. I’m actually in the market to re-finance my current home loan so this will come in handy. But I’m not sure this review belongs on this site - it seems a little out of place.
I’ll have to send this to a real estate friend of mine.
even i was thinking the same
I’m thinking of buying a new house. Maybe I could use this.
I would suggest adding a feature that lets you enter extra payments each month and then show how much that will shorten your term. Thats something I am always interested in with my own mortgage.
This seems very useful !!
That’s interesting. I wouldn’t need it though because my aunt has been a real estated agent for 20+ years so I always go to her for information.
I actually did send it to a friend in realeste and they were quite impressed with it. So as far as mortage calculators go, it does seem like winner.
Seems like a pretty decent mortgage calculator. Perhaps they should also contact a few real estate agents and a few mortgage loan officers to take it for a spin and see what they have to say about it.
~Terry
I liked the graphics part of it, and would head away right now to add the widget to one of my finance blogs
Looks like a cool one.
Great widget. That will go great on a mortage page.
Man, I’m almost positive this came out last year on the NY Times site, I’ve got to find that link from one of my old hard drives. At the time I was very excited about the calculation aspect and it rendered in color. I even used it…………let’s check google….
All I could find was there rent vs buy tool — still its a fun interface
http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html
this calculator takes the lead over the others because of the visual data it represents and in such a cool way.
Nice review … I gotta send this over to a few people
I think that was the intentions of the company…all the others suck visually if we make our more visual people will like it and use it
true
With the Mortgage Loan calculator this site will get many backlinks and will be an authority site. After this they will for sure use direct adveritising and use Affiliate marketing and I am sure they will make a lot of money and is really worth. Nice Plan!
Yeah…thats their plan and i guess advertising on the widget too!
The only downside is that their domain sucks.
I don’t think it sucks, but it will be better. But my guess is that they wanted something with the keyword “mortgage” and the .com extension and they didn’t found anything good. But I don’t think they will rely on “direct” traffic. Buying this review you can see that they want people to know them and make a “Buzz” in the Blogsphere to build backlinks and rely on Search Engine traffic (which is more targetted).
with the realestate problem we all lost money.
They don’t have to flood their site with ads, but imo they should at least put up one or two programs. Even Adsense would work..
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Nice widget, tested it. Nice graphical view and calculation information on loan.
Sweet little calculator. I really like how it visually shows just how little of the principal we’re paying off in the beginning on a mortgage.
This is a really interesting post. Really helpful.