RECalc is a Mortgage Calculator that is also a traditional Mathematical Calculator.

You can use RECalc to calculate the Monthly Payment, Term, Interest Rate or Loan Amount for a loan, as well as standard mathematical calculations as you would in any other calculator. You can modify any of the Calculation variables and re-calculate any of the values. You can also figure in Annual Property Tax, Homeowner's Insurance and Mortgage Insurance, as well as a Down Payment amount/percentage. RECalc supports semi-annual compounding (Canadian Amortization) in addition to normal monthly compounding. With a click, you can display the complete Loan Summary and Amortization Table for your calculation. You can also email the Loan details to your desktop, or save it for future reference.

Version History

3.0.4

• iOS 12, iPhone XS and iPhone XR support

3.0.3

• Bug fixes and performance enhancements

3.0.2

• iPhone X support

3.0.1

• Minor bug fixes and enhancements

3.0

• Universal App with Adaptive layout to support iPhone and iPad
• iOS 11 support
• Minor bug fixes and enhancements

2.1

• iOS 8 support
• Minor bug fixes

2.0.2

• App Icon fixes
• Other bug fixes

2.0.1

• iOS 7 compatibility

2.0

• iOS 6 compatibility
• iPhone 5 screen support
• Updated UI

1.5.5

• iOS 5 compatibility
• Use in-app Mail Composer
• Send HTML formatted email

1.5.4

• iOS 4.3 compatibility.

1.5.3

• iOS 4 compatibility: Fast App Switching, high-resolution icons.

1.5.2

• Fixed crash upon launch when trying to read a loan that was saved without a name.
• Also prevent saving a loan without a name.

1.5.1

• Fixed issue with clearing Amortization Table view after Clear All.

1.5

• Ability to save loans.
• Added index along the right side of Amortization Table, to jump/scroll to a particular year.
• iPhone OS 3.0 compatibility.

1.4.1

• Fixed a potential issue with emailing loan summary & amortization table.

1.4

• Add support to enter Mortgage Insurance (MI).
• Display MI, Tax & Ins in yearly and monthly amounts in summary view.
• Display Down Payment % in Summary View.
• Display Years in Amortization Table.
• Dynamically change Clear button text from C to AC to indicate All Clear.

1.3.1

• Allow entering DnPmt, Tax and Ins amounts as percentage of Amt.
• Fixed issue with use of cascading mathematical operators.

1.3

• Added support to enter yearly Taxes and Insurance and calculate total monthly PITI (Principal+Interest+Taxes+Insurance) payment.
• Added support to enter Down Payment.
• Changed Amortization Table view to display a comprehensive Summary section and an Amortization Table section as separate views.

1.2.1

• Fixed issue with Click Sounds under iPhone Software 2.2
• Fixed issue with Settings Panel

1.2

• Added support for Canadian Amortization, compounding semi-annually instead of monthly. You can turn this on with a switch in the settings panel.
• Added settings panel to toggle Canadian Amortization and Click Sounds.

1.1

• You can toggle to display the Interest Only Payment by tapping on the numeric display panel when the Normal (Principal + Interest) Payment is displayed.
• Displays the Loan Summary on the Amortization Table Screen.
• You can Email the Loan Summary and Amortization Table.

1.0

• Initial Release

Mortgage Calculations

To calculate any of the Mortgage variables (Amt, Int, Term or Pmt) you need to enter and store the other 3 variables, and then compute the value by clicking on the 4th variable followed by the = key.

Example: To Calculate Monthly Mortgage Payment for a 550,000 loan, at 6.25% for 30 years

Enter 550,000 and store it by clicking the Amt key, enter 6.25 and store it by clicking the Int key, and finally, enter 30 Years and store it by clicking the Term key. Click on Pmt, and then the = key to calculate the Monthly Payment (Interest + Principal). Clicking on the key will display the complete Amortization Table for the loan.

Once the values are stored, you can change any of the 4 variables and re-calculate any of the other values.

If you enter a Down Payment using the DnPmt key, this amount will be deducted from the Total Amount entered using the Amt key, to determine the Loan Amount before calculating the mortgage payments.

You can also enter the Taxes and Insurance amounts for the year, and they will be figured in to calculate the Total PITI Payment.

Once the Mortgage Payment (P+I) is calculated by clicking the Pmt key and then the = key, clicking on the Pmt key subsequently will display the Interest Only payment. Clicking it again will display the monthly PITI (Principal+Interest+Taxes+Insurance) payment.

You can enter the Tax, Ins and DnPmt as an absolute value or as a percentage of the Amt. To enter as a percentage of the Amt that has previously been stored, first enter the percentage (e.g. 1.25), then click the % key, and then finally the Tax key. This will calculate 1.25% of the Amt and store that value as the Tax.

Percentage Calculations

To calculate a percentage use it with the x key.

Example: To calculate 3% of 5000

Enter 5000, click x key, enter 3, click % key, and finally click =.

Example: To calculate the total cost of a $600 item with a 8.25% sales tax

Enter 600, click + key, enter 8.25, click % key, and finally click =.

Example: To calculate the discounted value of a $900 item with a 10% discount

Enter 900, click - key, enter 10, click % key, and finally click =.

RECalc Keys

This table describes all the keys available in the Calculator.

Key		Function
0-9		Enter numerals 0 through 9.
.		Enter a Decimal Point.
000		Multiply the entered value by 1,000.
+, -, x, ÷		Adds, subtracts, multiplies, divides.
=		Performs the calculation and displays the result.
C		Clears the entered value and display. Clicking Clear twice, clears all stored values in Memory.
±		Changes the sign of the entered value.
%		Calculates percentages, adds commissions, subtracts discounts.
M+		Add a value to the current value stored in memory.
M-		Subtract a value from the current value stored in memory.
MR		Recall the value stored in memory.
MC		Clear the value stored in memory.
Amt		Enter or recall the Loan Amount. Clicking = after this key will compute the value based on the other 3 variables.
Int		Enter or recall the Interest Rate. Clicking = after this key will compute the value based on the other 3 variables.
Term		Enter or recall the Term of the Loan in Years or Months, depending on your chosen setting (default is in Years). Clicking = after this key will compute the value based on the other 3 variables.
Pmt		Enter or recall the Monthly Mortgage Payment. Clicking = after this key will compute the value based on the other 3 variables. If Canadian Amortization is turned on, the payment will be calculated with interest compounded semi-annually instead of monthly.
MI		Enter or recall the Mortgage Insurance. You can enter this as an amount or as a percentage of teh loan amount.
Tax		Enter or recall the Yearly Property Taxes.
Ins		Enter or recall the Yearly Homeowners Insurance
DnPmt		Enter or recall the Down Payment. If you enter this, then this amount will be deducted from the Total Amount (Price) to determine the Loan Amount to be used in the calculations.
		Display the Loan Summary & Amortization details for the Loan. The final payment may be adjusted to account for payments having been rounded to the nearest cent.