Your Mortgage Toolbox launches free mortgage calculator app

Your Mortgage Toolbox has released a free mobile app for iPhone, Android and Amazon Fire tablets that gives homebuyers and homeowners eight mortgage tools in one place. The app is built to help users estimate payments, cash to close, affordability and refinance scenarios before they talk to a lender or make an offer.

Why it matters: - The app is meant to help consumers make faster, more informed housing decisions by estimating the real costs of buying, refinancing or selling a home before they commit. - Homebuyers can use the app to check monthly payment and cash-to-close numbers early in the process, which can reduce surprises tied to taxes, insurance, closing costs and other fees.

What happened: - Your Mortgage Toolbox launched a free mobile mortgage calculator app now available for iPhone, Android and Amazon Fire tablets. - The app is available through the Apple App Store, Google Play Store and Amazon Appstore for Fire tablets. - The company also made the app available without requiring users to create an account.

The details: - The app includes eight calculators: total monthly payment and cash to close, pre-qualification, income needed, mortgage payment, net proceeds from sale, refinance savings, rent vs. buy analysis and down payment savings goals. - The app is designed to cover taxes, insurance, PMI, closing costs, prepaid items, affordability, refinance scenarios and estimated net proceeds from selling a home. - Users can open the app, choose a calculator, enter their numbers and review estimates in seconds. - The mobile app extends the consumer calculator tools already available on YourMortgageToolbox.com. - The app is aimed at homebuyers, homeowners, sellers and anyone planning a mortgage-related decision. - The platform is free to download.

Between the lines: - The launch positions Your Mortgage Toolbox as a planning tool rather than a lender replacement. - Founder Don Proctor said the app is meant to help users ask better questions and make better decisions by understanding the numbers earlier in the process. - Proctor also said the app gives buyers a simple way to run monthly payment and cash-to-close numbers from their phone before they talk to a lender, make an offer or compare homes. - The company is emphasizing broader scenario planning, not just principal and interest, to address gaps in basic mortgage calculators.

What's next: - Consumers can start using the app immediately across the three supported app stores. - Your Mortgage Toolbox says the mobile launch extends its calculator tools into a broader app experience for consumers and for branded solutions used by real estate agents, mortgage lenders and financial professionals. - More information is available on the company's website.

The bottom line: - Your Mortgage Toolbox is betting that simpler, mobile-first mortgage math can help buyers and homeowners make better timing and budgeting decisions before they move forward.