What is Better: Web Mortgage Calculator or Mobile App?

With the Covid-19 pandemic having altered the way we live our lives, one of the major changes consumers have made is adjusting the way they use their smartphones. While the number of people using desktop computers may have decreased, the number of smartphone users has risen, and with the development of innovative applications (apps) this phenomenon has not ceased. As mobile technology becomes more and more integral to our day-to-day lives, the demand for mobile apps will continue to rise.

However, with the many apps available, the decision to choose one Mortgage Calculator over the other can be challenging. In this article, we will tell you about some of the key differences between a classic web-based mortgage calculator and a mobile app version, so you can make an informed decision. We'll also review some of the best mobile apps for calculating mortgage payments.

Features

Before we begin our comparison, it is important to note that not all mobile apps are created equal. Some apps lack important features that a classic mortgage calculator offers, so you may want to consider this before choosing an app.

For example, if you search for “mortgage calculator” on the Google Play Store you will find dozens of apps, some of which are free and some of which you have to pay for. The key difference is the number of features the apps offer. The following table lists the features that are available on each app and how much they cost.

You'll notice that some apps offer a lot of features for free while other apps charge you a monthly fee. In this case, the cost/benefit analysis should weigh in favor of the app that offers more features for free.

Also, make sure to check out the reviews before purchasing an app. This way, you'll know what other consumers think about the product and whether or not it's worth purchasing. Keeping up with the latest news reports and how the pandemic is impacting our world should also be part of your research, so you can be certain you're making the right choice for your needs.

Ease Of Use

One of the most crucial factors to consider when comparing mortgage calculators is the ease of use, as this will largely dictate how much you'll enjoy using the product and how much you'll want to use it. Additionally, this factor will determine how well the product functions and the likelihood of you encountering issues or having to contact customer support for assistance.

The best mortgage calculators are designed to be as simple and convenient to use as possible, requiring only minimal effort from the user.

However, not all easy to use products are created equal, so make sure to focus on the key features and functionalities of the product before purchasing, as this will greatly influence your decision. For example, some products may be easy to use but lack important features that make the app more convenient or useful.

Data Security

Another important consideration when comparing different mortgage calculators is how much you're willing to risk losing or compromising your personal data. Insecure data can lead to identity theft, so it's essential that your financial information is protected and not put at risk. Additionally, you need to consider how easy it is to access your data, as some apps may require you to login with your Google or Facebook account, which is then used to access your bank account and credit card information. This information is then sent securely to the vendor via protected SSL connection.

Some data protection laws require that vendors inform you of the risks associated with lost or stolen data, so make sure to read the terms and conditions of the products you're interested in purchasing. Additionally, whenever you're asked to provide personal or financial information, be sure to consult a legal expert or your financial advisor.

Access To Features

Another important consideration when comparing mortgage calculators is how accessible the features are and how easily they can be utilized. With most products, you'll need to register or login with your Google or Facebook account before using key features and functions. Many banks and credit card companies have imposed limits on how many login attempts a day one may make, so be sure to research the login process of the product you're interested in purchasing to ensure it's as smooth and simple as possible. Additionally, some online products are completely free, while others will cost you a monthly fee, so make sure you're aware of the costs before purchasing.

Mobile App Versus Classic Web-Based

The final crucial factor you need to compare between a mobile app and a classic web-based calculator is the device or platform the app is built for. If you're accessing the product via a mobile browser, you will need to consider the capabilities of the device you're using. Some apps are simply not built to work well or at all with mobile browsers, so be sure to research which devices and operating systems the product is compatible with before purchasing.

Additionally, you need to ensure that the device you're selecting has the computational power necessary to run the app smoothly and that it has a fast enough internet connection to perform calculations quickly. The following table lists the minimum system requirements for different mobile apps.

As you can see, not all apps are built for all devices and operating systems. If you're looking for a product that will run on a mobile phone, consider an app specifically designed for this purpose. With the right device and the right app, you can achieve almost any practical financial goal you may have, so be sure to select the right tool for the job.