Description
Loan plan is a great application which helps you to manage your budget efficiently. It allows you to evaluate whether or not a loan is a good deal.
If you are interested in buying the last flat tv screen, a quick and easy simulation on Loan Plan will tell you if you can afford it.
This app calculates your loan payments and displays the amortization schedule that you can export in PDF, HTML or TXT and email.
For all your loan projects and mortgages, Loan Plan is a must-have.
What's New in Version 2.5
- Added support for fixed fees and APR or EAR calculation
- Advanced settings to set the monthly interest rate (nominal or effective) and to simulate interest only credits (capital paid at term)
- Improved favorites management ("save as" and "new project" features)
Customer Reviews
Loan Plan very nice
Very nice program, graphics were easy on the eyes.
This program is better than most that I have used in the past.
The loan program opens up with a Credit Capacity screen which the user enters total income, Total loan payments per month and maximum desired DTI ration. Then it calculates the credit capacity, Current DTI and based on the desired DTI and current DTI determines the Amount of income available for the loan.
The next function is the Loan Sim. Here the user enters the amount of the loan, Years, and APR. The monthly Payment is calculated and below that a pie chart that displays the capital and interest and total interest paid.
On the Loan Sim screen displays the Amortization table. The Amortization Table graphs out the interest and principal ratio. If you press the year it breaks down the annual payment information into a monthly payment information.
Also at this point the user can Save the loan which brings the user to the Save page. The user can enter the name of the loan, Name of the Bank, and Select one of four categories (General, Housing, Vehicle, or Cash)
I thought it would be nice if a table would be available to quickly compare loans. But when the Saved Loans button is tapped, the loans are listed with a brief description including the Bank name, loan amount, years, APR and monthly payments. Having just refinanced the listing on the saved page provides a quick/comparison of the loans. From this the user can press the power and home button for a snap shot of the page which can be email quickly (this email worked since it was from the camera roll)
You can also email the loans in pdf, html or txt formats, and a pop up window informs the user the email was sent. Developer corrected the issue. (original post : Unfortunately I never received the emails sent to my gmail account.)
Recommendations: add a bi-weekly payment feature, allow for partial year calculation (for instance 3.X years. Some car leases are 39 month) a year/monthly toggle on the Loan Sim page would be helpful.
Overall very nice program. Originally gave it 4 stars. when the developer fix the email issue I changed it to a 5 star program.
thank you
bruinsrme
Good mortgage planner with email
I really like the "save a loan" capability. This allowed me to explain a whole bunch of re-fi scenarios to my wife quickly at a glance. Being able to re-arrange the list was key.
The email feature is useful also with the PDF version.
Adding some integration with the Contacts would allow picking a person from contacts to send the email instead of hand typing.
Nice work.
Makes the difference
I have tested almost all loan simulators and this one offers something more than just the amortization table in the app. I was able to receive amortization sheets by email in PDF or HTML. This is really useful and unique, I recommend it!
- Category: Finance
- Updated Dec 11, 2009
- Current Version: 2.5
- 2.5 (iPhone OS 3.0 Tested)
- 0.6 MB
- Languages: English, Dutch, French, German, Italian, Japanese
- Seller: Camille Blanc
- © 2009 Camille Blanc
Requirements: Compatible with iPhone and iPod touch. Requires iPhone OS 2.1 or later.
