Media Freeware has created a comprehensive but easy to use Mortgage Calculator to shed light on the true cost of borrowing so homeowners can get the best deal possible.

New York, NY -- (SBWire) -- 12/19/2013 --In this economy, many individuals are considering refinancing or remortgaging their homes to sustain their standard of living through the hard times. While in some cases this is feasible, in others it can create punishing repayment plans that individuals struggle to understand when they first commit. Media Freeware aims to put an end to the confusion by providing a free Home Mortgage Calculator that gives individuals a detailed breakdown of exactly what a loan means depending on the specific features of the very loan users are considering.

The Mortgage Payment Calculator is free to download direct from the website or from major resource hubs like CNET and Softpedia, and can be installed and used within minutes. The software is lightweight on a computer’s resources and includes a wide variety of input options to ensure the answers it gives are as accurate as possible.

Users enter their credit standing, the purpose of the loan, the amount, interest rate and loan term together with variables including property tax, home value and PMI to determine everything from the monthly payment amount to the total amount of PMI paid and more, to give users a full portrait of what the loan really means for them.

A spokesperson for Media Freeware explained, “The mortgage calculator has been designed to take into account everything that companies tell customers about their loan as well as the information the customer supplies the company in order to identify the true cost of the loan while remaining straight forward in its user interface and clear in its breakdown of the results. The calculator can help individuals determine the difference between a monthly vs bi-weekly payment plan as well as project the payoff date and total interest paid, so users are fully informed before committing to a loan.”

About Media Freeware
Media Freeware is a software development company that provides simple and elegant solutions freely through its own website as well as major software sites. They use a team dedicated to building free and robust programs and apps, ranging from virtual pianos to webcam recorders. Their latest release is a free Mortgage Calculator software. For more information, please visit: http://mediafreeware.com/free-mortgage-calculator.html