This is the essential tool set for the mortgage professional.
All the mortgage related calculators you need bundled into one
simple, easy to use program! The program includes excellent
documentation, and the developer at Cool Gadgets provides prompt,
courteous and complete support. The demo version allows you to open and use it 10 times.

The Pro Mortgage Gadgets program has been designed exclusively
for the mortgage professional. It consists of several individual
programs combined into one simple, easy to use interface. This
is accomplished by having a user interface designed using tabs.
There is a tab for each major part of the program - 4 tabs in all.
The included programs are:

1. Mortgage Solver (Mort)


2. Double Loan Solver (Double Loan)


3. Pre-qualification Calculator (Prequal)


4. Refinance Calculator (Refinance)

The included programs have been designed to handle most of
the calculations the average mortgage professional needs to
perform on a daily basis.

Now we'll cover the basic functionality of each program.

Mortgage Solver

The Mortgage Solver is basically a Mortgage Calculator that
allows you to solve for one of 3 variables:

1. PI (Monthly Principal and Interest Payment)


2. Interest Rate


3. Loan Amount

Double Loan Solver

The purpose of the Double Loan Solver is to address those
situations where the client has less than 20% equity in the
house and will need to pay Private Mortgage Insurance (PMI).
The idea is to have 2 loans in order to "get rid of" PMI.
The second loan is sometimes referred to as a "Piggy-Back" loan.

Pre-qualification Calculator

The Pre-qualification Calculator allows you to input
information about a client's monthly salary and bills,
some information about the loan (interest rate and term)
and determine the maximum loan amount and maximum monthly
payment the client can afford.

Refinance Calculator

Refinance Calculator works a little differently than the
rest of the programs in that there is no "Calculate" button.
Calculation occurs as you switch tabs between "Curr. Loan",
"New Loan" and "Results". For example, as you fill out
information about your Current Loan and switch to the new
loan tab, the current loan balance is figured automatically
and set to be the new loan amount (although this can be
adjusted by entering a value in the "Adjust Loan Amt. By" field).
This tool will tell you based on closing costs paid and the
difference in the current payment vs. the new payment,
how long it will take to "break even".